Home Loans and Support

Foreclosure Mansion Fire Sales

million dollar foreclosuresMulti-million dollar mansions all over the country go on the foreclosure auction block

New York: Sloane Mansion in Pre-Foreclosure – The luxurious 18 East 68th Street property seems to be in trouble, as the owners were motivated to sell Sloan Mansion for $39 million, $25 million less than last year’s asking price. The property was bought for $20 million, while another $11 million were spent buying out tenants.

According to PropertyShark, the creditor (Madison Realty Capital) has submitted a pre-foreclosure filing (also known as a “lis pendens”) on the mortgage ($14 million) and the thought that such a property could end up foreclosed is definitely shocking.

It seems that two other luxurious properties are in trouble at this point (24 East 21st Street, currently on the market for $4.2 million and 24 East 21st Street, with a “lis pendens” of $1.625 million and currently on the market for $2.8 million).

It’s highly unlikely that things will go so far but these situations definitely say a lot about how things currently stand when it comes to high end U.S. real estate.


About Moe Bedard

My name is Maurice Bedard, but most people call me Moe. I am the founder of America's #1 Mortgage Forum, LoanSafe.org, and also a website design firm called We Create Web Designs. My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications. I currently live in Carlsbad, California with my beautiful wife and children.

Comments are closed.

Get free unbiased help with your tough questions. Start your own threads and post replies with over 60,000 people just like you.

Connect with us

LoanSafe Forums

TESTIMONIALS

"Hello Moe, I just wanted to tell you, your website has saved my life (literally), I stumbled on your site in the middle of losing my home, I was able to network with people going through the same thing as I am. I didn't feel alone anymore, I have tried to give back and counsel those that haven't walked in my shoes yet. We hear so much about what is wrong with America, I just wanted you to know, you are whats "right" with America."

Nina Mitchell
Loansafe & MoeSeo Inc. © 2014 | LoanSafe.org is not a bank, lender, mortgage broker, law firm or affiliated with the US Government. Privacy Policy