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Posts in category "Foreclosure"

4725 South Michigan: Mortgage Fraud Alleged By The State

Someone took note of my posts about the 4725 South Michigan condo association and suggested that I do some more searching. So I did. The renewed effort did not disappoint. The State of Illinois alleges that several individuals and real estate professionals were attempting to defraud various lenders to the tune of 7.7 million dollars... Read more »
By Woodlawn Wonder,
October 28, 2010 at 3:37 pm
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The Price of Foreclosure: The Takeaway

The Price of Foreclosure: The Takeaway
In my experience, an emerging trend with association failures is that a handful of people own multiple units.  When one or two of these individuals fall on hard times, the rest of the association tends to suffer. So the question is what can you do to protect yourself from buying into an almost certain nightmare... Read more »
By Woodlawn Wonder,
October 20, 2010 at 11:03 am
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The Price of Foreclosure: The Pictures

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I went to hallowed ground in Bronzeville yesterday and didn’t even know it. On my way to snap a few pictures of the 4725 South Michigan building, I passed the imposing and still majestic Rosenwald apartment complex on the northwest corner 47th & Michigan. Despite years of neglect, she still stood proudly, waiting for the... Read more »
By Woodlawn Wonder,
October 19, 2010 at 11:34 am
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The Price of Foreclosure: The Impact

The Price of Foreclosure: The Impact
A few individuals owning multiple units within the 4725 South Michigan Condo Association ultimately led to its demise. When an individual owns multiple units in an association and their financial picture sours, the association’s finances come tumbling down as well. If the association isn’t getting paid by one unit that’s challenging; not getting paid by... Read more »
By Woodlawn Wonder,
October 18, 2010 at 12:03 pm
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The Price of Foreclosure: Unit 3C

The Price of Foreclosure: Unit 3C
Unit 3C at the 4725 S. Michigan condo association has an interesting story.   As it was going through the process of foreclosure, the plantiff FCDB LBPL 2008-1, discovered that the deed was clouded with a lien from the U.S. Attorney’s office for the Northern District of Illinois.  The lien in question was filed at the Recorder of... Read more »
By Woodlawn Wonder,
October 7, 2010 at 1:26 pm
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The Price of Foreclosure: An Education

The Price of Foreclosure: An Education
My overdue trip to the Clerk of the Circuit Court’s office finally happened. While I had been there many times before, this trip provided me with a quick education in the steps the state is taking to combat predatory lending. In my last post I mentioned that a few of the foreclosure files had a... Read more »
By Woodlawn Wonder,
October 6, 2010 at 2:48 pm
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The Price of Foreclosure: The Owners

The Price of Foreclosure: The Owners
According to public records at the Cook County Clerk of the Circuit Court, seven people owned two or more units in the 4725 South Michigan Condo Association. Those seven individuals, Ronald Allen, John Welch, Amanda Fanaro, Justin Daugherty, Kristin Daugherty, Lindsey L. Haake & Chloe Niems, account for 26 properties that are being foreclosed upon... Read more »
By Woodlawn Wonder,
September 19, 2010 at 11:15 am
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The Price of Foreclosure: Public Records

The Price of Foreclosure: Public Records
If you know where to look, public real estate records can tell a fascinating story. The documents concerning the 4725 South Michigan condo association were pulled from various online Cook County records and court documents. I performed basic searches via the following departments: Cook County AssessorCook County TreasurerThe Clerk of the Circuit Court of Cook... Read more »
By Woodlawn Wonder,
September 10, 2010 at 7:27 am
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The Price of Foreclosure

The Price of Foreclosure
I have a sneaking suspicion you’ll be seeing more of this as the economy continues to flounder. It only makes me wonder if this fire at a defacto abandoned condominium building was an accident.  With the weather starting to change, perhaps the occupants needs to keep warm at night.  I’d be less than honest if... Read more »
By Woodlawn Wonder,
September 7, 2010 at 10:44 pm
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Foreclosure Follies: Hello, Congress?

Foreclosure Follies: Hello, Congress?
I know I’m not the only one who’s going through hard times. But it might be nice if congress got off their a*ses and extended unemployment benefits—soon.  And when I mean soon I mean within the next three weeks. I checked my unemployment account and that $752.00 I have isn’t going to last long. What... Read more »
By Woodlawn Wonder,
June 9, 2010 at 10:38 am
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