2991 Taylor Spring Lane is a three-level townhome in Taylor Spring subdivision with three bedrooms, two full bathrooms, and a half bathroom.  In addition to the 1400 finished square feet above ground, the home has a 700 square foot unfinished basement.  Oh --- and as is evident from the photo on the right, this is an end unit with a brick facade!

The property was originally purchased in March 2004 for $126,540.  The deed of trust that may be foreclosed upon is dated August 30, 2004 and is in the amount of $135,000.  Thus --- even if the principal balance had not been reduced at all by regular monthly payments --- a $62,900 opportunity may exist.  This equity gap is based on the current assessed value of $197,900 and the original principal balance of $135,000.

If you're interested, the trustee sale will take place on July 15, 2008 at 4:30 p.m. at the Rockingham County Circuit Court. 

A few other articles that might be helpful for understanding the foreclosure process include:

• Buying a foreclosure sale before the sale
• Types of foreclosure opportunities
• How and why to buy property at a foreclosure sale

And if you'd like to see other comparable Taylor Spring properties currently on the market, click here.