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This $17M N.J. home is in foreclosure, will go to auction (PHOTOS …

Englewood’s magnificent Italianate estate Gloria Crest, one of the most expensive home ever on the market in New Jersey, is in foreclosure, court records show. 

The 24,000-square-foot home on five walled acres has been on and off the market since at least 2013, when it was listed for $39 million. After several price cuts, the most recent in November, it is now marketed at $17 million.

The owners defaulted on their mortgage in February 2014 and owe $5 million to TD Bank, court records show. It is scheduled to be auctioned off on April 21, although foreclosure sales are often postponed several times before they hit the block. The owners can still sell the home in the interim to pay off the debt.  

The current owners purchased the home in 2000 for nearly $4.8 million and spent millions renovating it, although the home, built in 1926, still exudes Jazz Age glamour, with gilded moldings, ornately carved fireplaces and a stained-glass ceiling in the kitchen.  

One lounging area features a large portrait of Gloria Swanson as Norma Desmond in “Sunset Boulevard,” a nod to persistent rumors that Swanson once owned the home, and that it was purchased for her by her paramour Joseph Kennedy Sr., the  powerbroker and father of a future president. Town historians strongly dispute the claim. It was built by Count Stefan de Poniatowski, a onetime heir to the Polish throne who made his fortune in silk, but he lost it after the stock market crash of 1929.

More drama! Mary J. Blige knocks another $1M off her Saddle River estate

The home includes eight bedrooms, four kitchens, a grand salon, a music room, a solarium, two towers, one of which is lined with logs to resemble a Russian dacha, a movie theater, a gym, grotto, sauna and steam room, while the property features a vanishing-edge pool with waterfall, a bocce court, a thatched hut from Indonesia, and a small lake with swans and cranes. It was featured in the 2001 Woody Allen period piece “The Curse of the Jade Scorpion.” Taxes on the property are $147,540 a year. 

Gloria Crest is currently the third most expensive listing on the market in New Jersey. That doesn’t take into account three pricier properties that were taken off the market unsold late last year: the Stone Mansion in Alpine, Long Branch’s Belle Mer, and the 1930s Frick estate, next door to the Stone Mansion in Alpine. 

Vicki Hyman may be reached at vhyman@njadvancemedia.com. Follow her on Twitter @vickihy or like her on Facebook. Find NJ.com/Entertainment on Facebook, and check out Remote Possibilities, the TV podcast from Vicki Hyman and co-host Erin Medley on iTunesStitcher or Spreakeror listen below or here.


Ep. 66: Is ‘This Is Us’ just too much?

Article source: http://realestate.nj.com/realestate-news/2017/02/new_jersey_most_expensive_home_1.html

On the market: Foreclosure, pre-foreclosure homes in Southwestern …

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110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow


Photo: 110 Old Hickory Rd, Fairfield, Zillow, Dec, 2016, Foreclosure

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow


Photo: 110 Old Hickory Rd, Fairfield, Zillow, Dec, 2016, Foreclosure

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow


Photo: 110 Old Hickory Rd, Fairfield, Zillow, Dec, 2016, Foreclosure

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow


Photo: 110 Old Hickory Rd, Fairfield, Zillow, Dec, 2016, Foreclosure

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow


Photo: 110 Old Hickory Rd, Fairfield, Zillow, Dec, 2016, Foreclosure

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow


Photo: 110 Old Hickory Rd, Fairfield, Zillow, Dec, 2016, Foreclosure

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow

110 Old Hickory Rd, Fairfield, CT 06824
Auction
Foreclosure estimate: $1,645,810
4 beds 5 baths 5,267 sqft
Features: 4000 sq ft plus additional space can be converted

View full listing on Zillow


Photo: 110 Old Hickory Rd, Fairfield, Zillow, Dec, 2016, Foreclosure

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow


Photo: Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow


Photo: Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow


Photo: Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow


Photo: Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow


Photo: Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow

4 Rainbow Dr, Riverside, CT 06878
Pre-foreclosure
Foreclosure estimate: $1,449,466
4 beds 3 baths 3,128 sqft

View full listing on Zillow


Photo: Zillow


11 Hedgerow Ln, Greenwich, CT 06831

Pre-foreclosure

Foreclosure estimate:
$5,453,410
6 beds 9 baths 9,956 sqft


View full listing on Zillow

11 Hedgerow Ln, Greenwich, CT 06831
Pre-foreclosure
Foreclosure estimate: $5,453,410
6 beds 9 baths 9,956 sqft

View full listing on Zillow


Photo: Julian Jarry / Contributed Photo


11 Hedgerow Ln, Greenwich, CT 06831

Pre-foreclosure

Foreclosure estimate:
$5,453,410
6 beds 9 baths 9,956 sqft


View full listing on Zillow

11 Hedgerow Ln, Greenwich, CT 06831
Pre-foreclosure
Foreclosure estimate: $5,453,410
6 beds 9 baths 9,956 sqft

View full listing on Zillow


Photo: Julian Jarry / Contributed Photo


11 Hedgerow Ln, Greenwich, CT 06831

Pre-foreclosure

Foreclosure estimate:
$5,453,410
6 beds 9 baths 9,956 sqft


View full listing on Zillow

11 Hedgerow Ln, Greenwich, CT 06831
Pre-foreclosure
Foreclosure estimate: $5,453,410
6 beds 9 baths 9,956 sqft

View full listing on Zillow


Photo: Carmen Neagos /


11 Hedgerow Ln, Greenwich, CT 06831

Pre-foreclosure

Foreclosure estimate:
$5,453,410
6 beds 9 baths 9,956 sqft


View full listing on Zillow

11 Hedgerow Ln, Greenwich, CT 06831
Pre-foreclosure
Foreclosure estimate: $5,453,410
6 beds 9 baths 9,956 sqft

View full listing on Zillow


Photo: Julian Jarry / Contributed / Contributed Photo


11 Hedgerow Ln, Greenwich, CT 06831

Pre-foreclosure

Foreclosure estimate:
$5,453,410
6 beds 9 baths 9,956 sqft


View full listing on Zillow

11 Hedgerow Ln, Greenwich, CT 06831
Pre-foreclosure
Foreclosure estimate: $5,453,410
6 beds 9 baths 9,956 sqft

View full listing on Zillow


Photo: Julian Jarry / Contributed / Contributed Photo


11 Hedgerow Ln, Greenwich, CT 06831

Pre-foreclosure

Foreclosure estimate:
$5,453,410
6 beds 9 baths 9,956 sqft


View full listing on Zillow

11 Hedgerow Ln, Greenwich, CT 06831
Pre-foreclosure
Foreclosure estimate: $5,453,410
6 beds 9 baths 9,956 sqft

View full listing on Zillow


Photo: Zillow


11 Hedgerow Ln, Greenwich, CT 06831

Pre-foreclosure

Foreclosure estimate:
$5,453,410
6 beds 9 baths 9,956 sqft


View full listing on Zillow

11 Hedgerow Ln, Greenwich, CT 06831
Pre-foreclosure
Foreclosure estimate: $5,453,410
6 beds 9 baths 9,956 sqft

View full listing on Zillow


Photo: Zillow


11 Hedgerow Ln, Greenwich, CT 06831

Pre-foreclosure

Foreclosure estimate:
$5,453,410
6 beds 9 baths 9,956 sqft


View full listing on Zillow

11 Hedgerow Ln, Greenwich, CT 06831
Pre-foreclosure
Foreclosure estimate: $5,453,410
6 beds 9 baths 9,956 sqft

View full listing on Zillow


Photo: Zillow


11 Hedgerow Ln, Greenwich, CT 06831

Pre-foreclosure

Foreclosure estimate:
$5,453,410
6 beds 9 baths 9,956 sqft


View full listing on Zillow

11 Hedgerow Ln, Greenwich, CT 06831
Pre-foreclosure
Foreclosure estimate: $5,453,410
6 beds 9 baths 9,956 sqft

View full listing on Zillow


Photo: Zillow


11 Hedgerow Ln, Greenwich, CT 06831

Pre-foreclosure

Foreclosure estimate:
$5,453,410
6 beds 9 baths 9,956 sqft


View full listing on Zillow

11 Hedgerow Ln, Greenwich, CT 06831
Pre-foreclosure
Foreclosure estimate: $5,453,410
6 beds 9 baths 9,956 sqft

View full listing on Zillow


Photo: Zillow

1756 High Ridge Rd, Stamford, CT 06903
Pre-foreclosure
Foreclosure estimate: $1,111,203
4 beds 4.5 baths 6,698 sqft

View full listing on Zillow

1756 High Ridge Rd, Stamford, CT 06903
Pre-foreclosure
Foreclosure estimate: $1,111,203
4 beds 4.5 baths 6,698 sqft

View full listing on Zillow


Photo: Zillow

1756 High Ridge Rd, Stamford, CT 06903
Pre-foreclosure
Foreclosure estimate: $1,111,203
4 beds 4.5 baths 6,698 sqft

View full listing on Zillow

1756 High Ridge Rd, Stamford, CT 06903
Pre-foreclosure
Foreclosure estimate: $1,111,203
4 beds 4.5 baths 6,698 sqft

View full listing on Zillow


Photo: Zillow

1756 High Ridge Rd, Stamford, CT 06903
Pre-foreclosure
Foreclosure estimate: $1,111,203
4 beds 4.5 baths 6,698 sqft

View full listing on Zillow

1756 High Ridge Rd, Stamford, CT 06903
Pre-foreclosure
Foreclosure estimate: $1,111,203
4 beds 4.5 baths 6,698 sqft

View full listing on Zillow


Photo: Zillow

1756 High Ridge Rd, Stamford, CT 06903
Pre-foreclosure
Foreclosure estimate: $1,111,203
4 beds 4.5 baths 6,698 sqft

View full listing on Zillow

1756 High Ridge Rd, Stamford, CT 06903
Pre-foreclosure
Foreclosure estimate: $1,111,203
4 beds 4.5 baths 6,698 sqft

View full listing on Zillow


Photo: Zillow

1756 High Ridge Rd, Stamford, CT 06903
Pre-foreclosure
Foreclosure estimate: $1,111,203
4 beds 4.5 baths 6,698 sqft

View full listing on Zillow

1756 High Ridge Rd, Stamford, CT 06903
Pre-foreclosure
Foreclosure estimate: $1,111,203
4 beds 4.5 baths 6,698 sqft

View full listing on Zillow


Photo: Zillow

4 Hitfield Rd, Newtown, CT 06470
Foreclosed
Foreclosure estimate: $416,428
4 beds 2.5 baths 3,012 sqft
Features: Located on a cul de sac, 3.5 car garage, wrap-around deck

View full listing on Zillow

4 Hitfield Rd, Newtown, CT 06470
Foreclosed
Foreclosure estimate: $416,428
4 beds 2.5 baths 3,012 sqft
Features: Located on a cul de sac, 3.5 car garage, wrap-around deck

View full listing on Zillow


Photo: Zillow

4 Hitfield Rd, Newtown, CT 06470
Foreclosed
Foreclosure estimate: $416,428
4 beds 2.5 baths 3,012 sqft
Features: Located on a cul de sac, 3.5 car garage, wrap-around deck

View full listing on Zillow

4 Hitfield Rd, Newtown, CT 06470
Foreclosed
Foreclosure estimate: $416,428
4 beds 2.5 baths 3,012 sqft
Features: Located on a cul de sac, 3.5 car garage, wrap-around deck

View full listing on Zillow


Photo: Zillow

4 Hitfield Rd, Newtown, CT 06470
Foreclosed
Foreclosure estimate: $416,428
4 beds 2.5 baths 3,012 sqft
Features: Located on a cul de sac, 3.5 car garage, wrap-around deck

View full listing on Zillow

4 Hitfield Rd, Newtown, CT 06470
Foreclosed
Foreclosure estimate: $416,428
4 beds 2.5 baths 3,012 sqft
Features: Located on a cul de sac, 3.5 car garage, wrap-around deck

View full listing on Zillow


Photo: Zillow

4 Hitfield Rd, Newtown, CT 06470
Foreclosed
Foreclosure estimate: $416,428
4 beds 2.5 baths 3,012 sqft
Features: Located on a cul de sac, 3.5 car garage, wrap-around deck

View full listing on Zillow

4 Hitfield Rd, Newtown, CT 06470
Foreclosed
Foreclosure estimate: $416,428
4 beds 2.5 baths 3,012 sqft
Features: Located on a cul de sac, 3.5 car garage, wrap-around deck

View full listing on Zillow


Photo: Zillow


In an area like southwestern Connecticut, where luxury homes come with a big price tag, foreclosures can be a home buyer’s answer.

Homes that go into foreclosure are usually seized by the state because the homeowner cannot maintain mortgage payments. Most area homes are under judicial foreclosure, which means they go through the court system.

When a home is in pre-foreclosure, meaning it is still owned by the owner but in the process of being foreclosed, the owner may do a short sale. A short sale is when an owner is selling a home worth less than the mortgage owed on the home.


In Greenwich, a home that was previously one of the most expensive in the state, is in pre-foreclusre with a foreclosure estimate of $5,453,410.

It features a solarium, wine cellar and tasting room, home theater and lower level family room that opens into pool area.

Article source: http://www.ctpost.com/realestate/article/On-the-market-Foreclosure-pre-foreclosure-homes-10963268.php

Senate Adds Another Foreclosure Kingpin To Trump’s Cabinet

The first, Steven Mnuchin, Trump’s treasury secretary, invested in and ran OneWest bank, which foreclosed on tens of thousands of Americans in the aftermath of the 2008 financial crisis. During his Senate confirmation hearing, he denied that his bank used the illegal practice of robo-signing, but public documents obtained by The Columbus Dispatch showed that was a false statement.

Article source: http://www.huffingtonpost.com/entry/wilbur-ross-commerce-secretary_us_58b4a811e4b0780bac2c9624

Troopers: Huber Heights man fled moving car, died in drainage pipe

A Texas 8-year-old who escaped harm in a car accident early Saturday was shot and killed just moments later, police say.

De’Maree Adkins was asleep in the back seat of her mother’s car around 1 a.m. Saturday as they drove through southwest Houston. The Houston Chronicle reported that mother and daughter were just five minutes from home when a Pontiac Grand Prix blew through an intersection and collided with the Honda driven by De’Maree’s mother, Toyia Thomas.

Thomas’ first instinct was to be sure her daughter was OK.

“I called her name and I said, ‘Are you OK?’” Thomas told the Chronicle. “(She said) ‘Yeah, I’m OK. What happened, mama?’”

Thomas said that was when a third vehicle, a four-door sedan, pulled up next to her Honda. A woman got out of the car and opened fire on Thomas and her daughter.

“I don’t know who it was and I don’t know why she was shooting,” Thomas said.

She said she didn’t realize that De’Maree had been hit until she tried to get her daughter out of the car. That’s when she saw the blood.

“I told her to stay with me, stay with me,” Thomas told the Chronicle, breaking down in tears. “Her body just went limp.”

De’Maree was taken to a local hospital, where she was pronounced dead.

Investigators said between five and seven shots were fired, though it is not yet clear if the shooter was targeting Thomas’ vehicle or someone in the Grand Prix involved in the crash.

“We don’t know if they were firing at each other and struck the vehicle, or if once the accident happened, they got angry, jumped out and they shot the vehicle,” Detective David Stark told the newspaper. “We just don’t know.”

Read more trending stories

As detectives looked for those responsible for De’Maree’s death, her family remembered her short life and mourned the milestones they won’t see her achieve. The MacGregor Elementary School honor student had recently started learning the violin.

Her grandfather, Melvin Jarmon, told KPRC 2 in Houston that De’Maree, who he called “the boss,” enjoyed making him toe the line. De’Maree’s older cousin recalled the last time she spoke to the little girl.

“Before the accident, she FaceTimed me and she told me that she loved me,” Victoria Jarmon said.

Thomas was struggling to understand her daughter’s death.

“She was a good girl, an honor roll student. Full of life,” Thomas told KPRC. “They took my baby away from me. Why? She didn’t deserve this. She was only 8.”

Police said that the driver of the Pontiac that was involved in the crash got into the sedan with the shooter and they fled together. No suspects had been publicly identified as of Monday morning.

Houston’s Crime Stoppers is offering a $5,000 reward for information in the case. Texas Gov. Greg Abbott has added an additional $10,000 to that reward.

“Cecilia and I send our deepest sympathies to De’Maree’s family during this unimaginably difficult time,” Abbott said in a statement. “There is no place for heinous acts like this in Texas. We urge anyone who has any information to contact Houston Crime Stoppers immediately to bring those involved to justice.”

Related

Article source: http://www.whio.com/news/crime--law/troopers-huber-heights-man-fled-moving-car-died-drainage-pipe/NurmyAgfs1Skod6s1qR79O/

Blessed to find an easy solution to an Inherited House

When Jane Birkholz and her siblings inherited their mother’s house, they kept it in the family until the sister living there passed away. When that happened, Birkholz’ niece, who was also living there, decided to move. The only thing left was trying to sell the house.

“[The situation] was quite a bit of a mess and I knew I couldn’t deal with it,” said Birkholz. “I saw an ad in the paper, so I called Brandon.”

That is Brandon Logan of BrandonBuysKC.

BrandonBuysKC, started by Logan in 2005 and joined by Brett Shelton in 2009, offers a variety of solutions for homeowners needing immediate relief from the economic burden of ownership, including inheritance, being behind on taxes, too many repairs, downsizing, divorce, death of a loved one, job loss, or another situation.

Logan’s extensive real estate experience allows him to realistically value the homes the company purchases. Because of this expertise, after touring a house he can usually make an offer within 24 hours. And, since the company pays cash, closing can be within as little as a week. Logan also offers homeowners the best advice on how to sell their home, even if BrandonBuysKC isn’t their best option.

“Homeowners need a buyer they can trust, that’s us,” Logan said. “They don’t need a national company that just puts their house into a formula to make a low-ball offer. They need to sell but want someone to help them make the best decision. We offer honest solutions for local sellers.”

For Birkholz, the company was a great fit. “[Brandon] is the nicest person, the best young man I have dealt with in a long time,” she said. “So honest; so interested in helping you with your situation and your problems. We made a deal right away.”

Even after signing a contract with BrandonBuysKC, issues can arise. In those situations, they offer a great deal of flexibility. For example, Birkholz had set a closing date with Logan, and her niece was ready to move into a condo. But, “the closing on my niece’s condo was pushed back,” recalled Birkholz, “so Brandon pushed back our closing date a week and a half without any issues. He was just a jewel.”

Logan also allowed Birkholz to leave whatever she wished in the home. “My kids and I and my niece took what we wanted and left the rest. It was such a relief not of have to deal with it. Brandon made everything so easy for me.”

For those with a home that requires a lot of work, the company has the expertise and resources to deal with that as well.

“Many houses are unsellable because they won’t pass inspections,” Logan said. “The owner may have lived there for several years and repairs have not been done. The house may have asbestos tile and lead paint that need to be removed, or wiring and plumbing that needs to be brought up to code.”

According to Logan, most buyers don’t want to buy a house and then work on it. “Today’s buyers want a move-in-ready house. Repairs can be very expensive, especially if the seller does not have a background in construction or design. It’s very important to make the right repairs even if the repairs are only cosmetic. I’ve seen good people make expensive mistakes rehabbing their home, either from hiring bad contractors to something as simple as picking out the wrong colors. It’s not an easy process and mistakes can be very costly.”

Shelton, who possesses expertise in accounting and remodeling, said working with a local company is important.

“BrandonBuysKC offers advantages that national companies cannot, because we know the Kansas City area real estate market and local home values,” he said. “And, we use our own local construction company to do the renovations, and all of the money generated by buying, renovating and reselling the homes stays in Kansas City. These advantages allow us to pay more than our competitors.”

Logan’s background as a real estate agent for banks is especially helpful to homeowners facing foreclosure or a short sale.

“I have experience working with banks in those situations,” Logan said. “If you know someone going through hard times and about to lose their home, have them call me as soon as possible. We can help them avoid foreclosure and get a fresh start in life.”

Those who want to sell their home may visit the website BrandonBuysKC.com and fill out the form, or call Brandon Logan at 816-582-8100.

BrandonBuysKC.com

Contact: Brandon Logan, 816-582-8100

Web: BrandonBuysKC.com

Article source: http://www.kansascity.com/homes/article134861609.html

Residents fault landlord for problems at Sayles Place

Willena Turner, a single mother of seven, wanted a home of her own. So in 1973 she scraped together $500 from her earnings as a federal records clerk for the deposit on a new, three-bedroom home in Sayles Place, a townhouse cooperative in the District’s Barry Farm neighborhood.

The deposit and Turner’s monthly payments went toward the cooperative’s mortgage, backed by the U.S. Department of Housing and Urban Development.

“She was more glad that she didn’t have to depend on a landlord,” said Pamela Turner, 57, Willena’s youngest daughter. “She was more content with having something of her own.”

For 35 years, Turner’s monthly payments chipped away at the cooperative’s mortgage and toward her share of the townhouse development on Douglas Place SE.

But her dream of a well-kept home of her own died in 2009.

That year, HUD moved to foreclose on Sayles Place, citing poor maintenance and repeated failed federal property inspections. To avoid foreclosure, the Sayles Place board members filed for bankruptcy and looked for an investor to purchase the mortgage. Bankruptcy gave residents the power to choose their new landlord, rather than letting HUD decide the matter after foreclosure.

They chose Sanford Capital and were hopeful. Even if they lost their equity, they were convinced that their homes would be maintained. Instead, when Turner died in 2012 in her home at the age of 92, she was paying rent to one of the city’s most notorious landlords.

Sayles Place residents told The Washington Post that their landlord ignores complaints about broken air conditioners, sewage that flows into kitchens and bathrooms, vacant units that invite squatters, unsecured entrances and poor exterior lighting. There were two shootings at the property in 2016.

City agencies have served Sanford with more than 200 warnings of housing code violations with fines totaling about $150,000 across its 19 properties, a Post investigation found. The D.C. attorney general filed two lawsuits against Sanford over housing code violations at two of the most dilapidated buildings. The company agreed to an abatement plan for both properties, neither of which is Sayles Place.

An attorney for Sanford Capital declined requests for comment about conditions at Sayles Place.

Caroline Andrews, 69, has lived at Sayles Place for 43 years. Andrews said she and her neighbors were upset when they lost their homeownership opportunity in the bankruptcy but were determined to make the best of it.

“We never had no idea that the people who took on the place would be the landlords that they are,” Andrews said about Sanford Capital.

Sayles Place was part of a Nixon-era federal program to support homeownership among lower-income Americans. The federal government subsidized cooperatives — where each resident has a financial stake in the entire property, as opposed to owning a specific unit — to create a low-cost buy-in option and keep monthly payments affordable.

The promise of Sayles Place was that residents could own a share of D.C. real estate, a rare opportunity in the 1970s when just 28 percent of the city’s population owned a home. The term of their 40-year loan would have been up in 2014.

Many of the first residents were single mothers like Andrews and Turner.

“It was a good opportunity,” Andrews said. “It was like a family.”

But by 2009 HUD moved to foreclose, saying the cooperative repeatedly failed to keep the property in good condition.

Michael Diamond directs Georgetown University law school’s housing and community development clinic, which represented the residents of Sayles Place in the mid-2000s. Diamond worked with the tenants to get repairs made to try to pass inspections.

When the co-op filed for bankruptcy in 2009, it claimed between $1 million and $10 million in liabilities on property assessed at about $3.4 million and $9,000 in cash assets. The board filed claims against 13 tenants who owed up to $25,000 in missed assessments.

“There’s no question their financial standing was precarious,” Diamond said, adding that it would have been better to put the property into temporary receivership until its financial and physical conditions improved.

Residents still question the foreclosure, which came just five years before the mortgage matured. “You mean to tell me y’all couldn’t come up with a better way?” asked Turner, who continues renting her mother’s three-bedroom apartment.

The Sayles Place board received offers from two potential buyers: W.C. Smith, which owned other affordable housing, and Sanford Capital, a relative unknown at the time.

The board tapped Sanford, which promised that it would freeze rents for several years and upgrade the property with handicap-accessible features, security gates and new kitchens, all while providing homeownership opportunities for qualified residents, according to Turner and cooperative-board documents.

In a letter to residents and in a corresponding covenant with HUD, Sanford promised to provide “decent, safe and sanitary housing.”

But on a cold November day, the doors swung open on several empty units revealing floors littered with trash, discarded clothing and unraked leaves. Shattered second-story windows left gaping holes like missing teeth, and plywood rested haphazardly over broken doors. Handicap access was never built, security gates never installed.

Juan Carlos Talley, 42, lived at Sayles Place with his three young children from 2014 until December. It was the second Sanford property in which the formerly homeless veteran lived. He took Sanford and its affiliates to court three times for maintenance failures.

So rampant is the drug use and prostitution in the unsecured laundry rooms that Talley was never able to wash clothes while he lived at Sayles Place.

“You can do any and everything in the laundry room, except laundry,” he said.

While some tenants accepted buyouts to move out when Sanford took over, Turner and Andrews stayed.

Andrews said she regrets that decision.

Turner just wishes Sanford would maintain the property, her home since 1973. Even if she wanted to move, she does not know where she could find another three-bedroom unit at an affordable rate.

“I would have nowhere to go,” Turner said.

Courtney is attached to The Post’s investigative unit through a program at American University.

Article source: https://www.washingtonpost.com/local/dc-politics/residents-fault-landlord-for-problems-at-sayles-place/2017/02/26/ec6aec02-e712-11e6-b82f-687d6e6a3e7c_story.html

Helix Energy forces foreclosure of Emas Marine Base in Texas

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Emas Chiyoda Subsea, already plagued by multiple legal actions against it for non-payment, has been dealt a further blow by Helix Energy Solutions who have forced the foreclosure of the EMAS Marine Base in Ingleside, Texas.

Emas AMC, now a subsidiary of Emas Chiyoda Subsea, acquired the spoolbase in January 2014 from Helix in a $45m transaction which it has since defaulted on. The foreclosure auction for the base has been scheduled for March 7.

The 120 acre deepwater support facility and pipeline fabrication base serves offshore and subsea activities in the US Gulf of Mexico and Mexico’s Bay of Campeche.

Last week, Splash reported that Japan’s NYK, who owns a 25% stake in Emas Chiyoda Subsea, was considering an exit from the joint venture. Norway’s Kristian Siem and Subsea 7 were rumoured to be taking over the stake, however NYK told Splash that it was still considering its options regarding the jv.

In addition to the Texas base foreclosure, Emas Chiyoda Subsea has also had one of its vessels,
Lewek Express, arrested by Bibby Offshore in a Texas court case over $14.7m owed from an $18.1m contract performed in Trinidad in 2016.

Singapore’s Ezra Holdings, which owns a 40% stake in the subsea joint venture, is also facing a potential legal battle with Norway’s Forland Subsea serving a statutory demand to pay more than $3m in unpaid charter fees as guarantor for Emas Chiyoda Subsea. Ezra has just a few days to pay up or face an application to be wound up by the High Court of Singapore.

EMAS AMC has also been hit with a winding up application, filed by logistics provider Necotrans Singapore, with a hearing set for March 3.


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Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd’s List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Article source: http://splash247.com/helix-energy-forces-foreclosure-emas-marine-base-texas/

This $17M NJ home is in foreclosure, will go to auction (PHOTOS)

Englewood’s magnificent Italianate estate Gloria Crest, one of the most expensive home ever on the market in New Jersey, is in foreclosure, court records show. 

The 24,000-square-foot home on five walled acres has been on and off the market since at least 2013, when it was listed for $39 million. After several price cuts, the most recent in November, it is now marketed at $17 million.

The owners defaulted on their mortgage in February 2014 and owe $5 million to TD Bank, court records show. It is scheduled to be auctioned off on April 21, although foreclosure sales are often postponed several times before they hit the block. The owners can still sell the home in the interim to pay off the debt.  

The current owners purchased the home in 2000 for nearly $4.8 million and spent millions renovating it, although the home, built in 1926, still exudes Jazz Age glamour, with gilded moldings, ornately carved fireplaces and a stained-glass ceiling in the kitchen.  

One lounging area features a large portrait of Gloria Swanson as Norma Desmond in “Sunset Boulevard,” a nod to persistent rumors that Swanson once owned the home, and that it was purchased for her by her paramour Joseph Kennedy Sr., the  powerbroker and father of a future president. Town historians strongly dispute the claim. It was built by Count Stefan de Poniatowski, a onetime heir to the Polish throne who made his fortune in silk, but he lost it after the stock market crash of 1929.

More drama! Mary J. Blige knocks another $1M off her Saddle River estate

The home includes eight bedrooms, four kitchens, a grand salon, a music room, a solarium, two towers, one of which is lined with logs to resemble a Russian dacha, a movie theater, a gym, grotto, sauna and steam room, while the property features a vanishing-edge pool with waterfall, a bocce court, a thatched hut from Indonesia, and a small lake with swans and cranes. It was featured in the 2001 Woody Allen period piece “The Curse of the Jade Scorpion.” Taxes on the property are $147,540 a year. 

Gloria Crest is currently the third most expensive listing on the market in New Jersey. That doesn’t take into account three pricier properties that were taken off the market unsold late last year: the Stone Mansion in Alpine, Long Branch’s Belle Mer, and the 1930s Frick estate, next door to the Stone Mansion in Alpine. 

Vicki Hyman may be reached at vhyman@njadvancemedia.com. Follow her on Twitter @vickihy or like her on Facebook. Find NJ.com/Entertainment on Facebook, and check out Remote Possibilities, the TV podcast from Vicki Hyman and co-host Erin Medley on iTunesStitcher or Spreakeror listen below or here.


Ep. 66: Is ‘This Is Us’ just too much?

Article source: http://realestate.nj.com/realestate-news/2017/02/new_jersey_most_expensive_home_1.html

Dry cleaner foreclosure

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Article source: http://northcountrynow.com/sound_off/dry-cleaner-foreclosure-0192763

90-year-old woman foreclosed, evicted from home of over 60 years

LAWRENCE – It wasn’t supposed to end this way.

Gloria Turano thought she’d be living on Skillman Avenue when she died, in the ranch home her late husband Louis built for them in 1953. She never wanted to leave it, and the decades of memories of raising a family it holds for her.

“I thought the undertaker would take me out of here,” the 90-year-old Turano said with a smile recently, sitting on a couch in the home’s den.

But as she spoke, the house was not hers anymore.

It belonged to Fannie Mae, the government-sponsored mortgage company, which bought it for $100 at a sheriff’s sale last year after a reverse mortgage company foreclosed on it – shutting down a loan Turano took in 2004.

She borrowed the money to help her pay her property taxes – in an effort to stay in the home. The taxes would be the loan’s undoing.

The money ran low, and Turano’s attempts to contact the lender, Financial Freedom, and refinance or work things out were never answered, she said.

She fell more behind in the taxes, and then legal notices started coming to the home from the lender around 2012 and 2013.

A little scared and embarrassed, she called her son, Rob Turano. He started what amounted to a last-minute legal battle to straighten things out.

It didn’t work.

Rob entered the picture too late, as well as a lawyer he hired.

In January 2016, Mercer County Judge Paul Innes lowered his gavel and completed the foreclosure. “You had two years,” Rob recalls the judge saying.

Then Fannie Mae started eviction proceedings against Turano, which heated up late last year. As he examined his mother’s paperwork, Rob said he found instances of deceit.

A letter to state Sen. Shirley Turner and the state Attorney General’s office were answered, but they did not help. They said his mother’s situation warranted concern – and maybe an investigation – but they too were powerless to stop the eviction proceedings.

Rob and the lawyer were able to get some delays, but Fannie Mae collected Gloria’s house keys on Feb. 5 – from Rob.

“It was a very sad day for me,” he said. Gloria now lives with her son, across town.

Rob said he’ll never forget what a lawyer told him early on in his fight: “You’re not going to lose this house.” Just like the television ads.

They did, and now Rob and Gloria want others to know her plight to save others from falling into the same trap.

Gloria said she hasn’t told many people she lost her home. But she’s ready now, saying, “If it can do something for someone else, if nothing at all.”

THE REVERSE MORTGAGE

Reverse mortgages are loans eligible to homeowners over the age of 62. It’s a “reverse” loan because the loan does not have to be paid back while the homeowner is alive and in the house – and taxes and insurance are up to date.

Lenders typically get their money back when the homeowner sells the house, or dies. Homeowners can make monthly payments if they want, but the lure for seniors on fixed income is not having to, lenders say.

Gloria’s husband died in 1981, and by 2004, money was getting tight. Property taxes kept rising, but Social Security was not keeping up the same pace, she said.

A friend in Pemberton told her she’d taken a reverse mortgage, and gave Gloria the number for Financial Freedom. After calling it, a vigorous young salesman was promptly at her door. She made him blueberry muffins.

If the money runs out, could she get more? What happens then?

Gloria said the man had perfect answers to all her questions. If she needed more money, they’d refinance the deal because her house would “only go up in value,” the man said. The deal was done in about 6 hours, Gloria said.

Due to their complexity, the U.S. Housing and Urban Development requires reverse mortgages require borrowers to be “counseled” before they sign the deal. Gloria said she was counseled over the phone.

Gloria’s house was worth about $300,000 in 2004, she recalled, and her reverse mortgage was for about $180,000. She got $104,000 after Financial Freedom paid off an existing $60,000 line of credit she had, plus some other smaller debts.

Rob had no idea. “I didn’t tell him anything,” she said. 

MONEY RUNS OUT

The Turanos put much of the blame on Gloria’s situation on the reverse mortgage, which experts say can be tricky – and some say an icky business.

They acknowledge Gloria should have reacted quicker and told someone, but she lived alone and for years had taken care of herself, Rob said.

Everything was fine until about 2007, when the loan funds were running low, but Gloria was unable to reach anyone at Financial Freedom, she said.

Financial Freedom, a subsidiary of OneWest Bank/CIT, did not return a message seeking comment on Gloria’s foreclosure. Fannie Mae also did not respond to a request for comment.

Her 2004 salesman told her he’d “always be there for her,” she recalls. “I never heard from him again,” Gloria said.

She says she hung in there for several more years, but then had to stop making tax payments to get by. ”The taxes just kept going up and I did not have the money,” Gloria said.

Gloria knew reverse mortgage rules state that taxes on properties must be kept current. 

Then, several years ago, as Rob got involved, Financial Freedom apparently started paying down her property tax bills.

But they were also foreclosing – because they were paying the taxes, Rob believes, but he is not totally sure that was the foreclosure reason. The reverse loan balance had ballooned to over $300,000, Rob said.

Reverse mortgage foreclosures are rare, and evictions rarer, experts say.

Mark Kriegel, the lawyer Rob hired to try and save the house, said unpaid property taxes are vulnerable to public auction, which would then add a lien on the property – which lenders do not like.

Rob has since examined his mother’s stack of paperwork, and from his calls and correspondence in trying to untangle the loan, he said he’s found a case of shady lending to a senior and instance of fraud.

“I think she was just taken advantage of,” Rob said. “In 2004, I think they saw a 77-year-old woman and thought, ‘Well how much longer does she have on the planet?’ “

Again, Gloria did not tell initially tell her son about the notices that started coming to the house because she knew he was having career issues at the time, she said.

But Rob said he found foreclosure notices were for a time being sent to Vernon, in Sussex County, and he found a document that states his mother “met with a certain lawyer early in the process, around 2013.”

The meeting never happened, and Rob said he never got an explanation for the wrong address.

He started making calls to lawyers that focus on senior law, and other agencies. “This is fraud,” people would tell him.

None of it mattered to the Superior Court of New Jersey, though.

Kriegel said he wished he was involved sooner.

“It’s very unfortunate,” he said. Reverse mortgages can be confusing, and the companies hedge on borrowers dying,  he said. “It’s a morbid assumption and it does not work out for every borrower.”

The silver lining is that Gloria Turano, even though she lost her home, outlasted the loan by living so long, Kriegel said. It’s likely not what the lender expected.

Rob implored anyone considering a reverse mortgage to consult a lawyer, and make sure your family knows all about it.

THE COMPANIES

In 2011, three major reverse mortgage providers Bank of America, Wells Fargo and Financial Freedom, stopped offering reverse mortgages. Together, the were half of the reverse business at the time.

Wells Fargo cited falling home values and challenges in assessing the homeowner’s ability to keep up with taxes and insurance obligations as the reason, Bankrate.com reported.

As for Financial Freedom, it was once part of failed bank IndyMac, which was taken over by the government in 2008.

In 2009, Steven Mnuchin led an investors group to buy the bank’s remains – including subsidiary Financial Freedom – and renamed it OneWest. He is now President Donald Trump’s Secretary of the Treasury.

This angered Turano, who started studying OneWest and Mnuchin.

Rob found, as Bloomberg News reported, that after Mnuchin sold OneWest Bank last year, HUD opened an investigation into foreclosure practices at subsidiary Financial Freedom.

And new owner CIT found more than $230 million in missing money, Bloomberg reported. Financial Freedom, as of December, 2016, had foreclosed on 16,220 loans – about 39 percent of the country’s reverse-mortgage foreclosures, the site reported.

Combined with the way his mother was ignored, Rob said, and then finding out about the investigation and Mnuchin’s ascension to government leader was too much to Rob.

He watched Mnuchin’s confirmation hearings.

“I was taken by the manner in which he portrayed having to foreclose on homeowners as a tough job that he didn’t seem to want to do; ‘cleaning up the mess’ I think he called it,” Rob said of Mnuchin.

On the weekend of Donald Trump’s inauguration celebrations, an estate sale company the Turanos hired held an open house at the Turano home, where workers had put price tags on nearly everything Gloria Turano owned, from her furniture to paperback books, and the fur coat she once cherished.

“The stark contrast of this weekend for us is this: as billionaire appointments and their friends descend on Washington to celebrate their victory, people will traipse through our family home buying – at a discount – my family’s 65 years of life,” Rob said then.

A FINAL INDIGNITY

Fannie Mae initially said Gloria had until the end of this month to leave the home, but then started offering her cash to leave early.

“First it was $5,000, then $2,000,” Rob said. Gloria left on her own, without any rush money to exit early.

“I’m just so upset at the way she, and we, we’re treated throughout this,” Rob said.

The home on Skillman Avenue – where her husband loved to cook on a special indoor charcoal grill he installed, where she cleaned the “pecky cypress” walls by hand with a special solution and where the family loved to gather in the long, skinny backyard – sits empty, awaiting sale to a new owner.

Gloria Turano is healthy as one can expect at 90, save for some minor back problems, Rob says. And she has not lost her cooking skills, a bright spot for mother and son as she settles into her new digs with Rob.

“At least I’ll get gnocchi out of it,” Rob said as Gloria chuckled.

Kevin Shea may be reached at kshea@njadvancemedia.com. Follow him on Twitter@kevintshea. Find NJ.com on Facebook.

Article source: http://www.nj.com/mercer/index.ssf/2017/02/90-year-old_woman_prepares_for_eviction_from_home.html