Foreclosure Sale --- 101 years old --- $52k of possible equity!

The property pictured to the right (506 Virginia Avenue) was purchased 18 months ago (January 2007) for $185,000.  The first mortgage, with an original loan amount of $148,000 is scheduled to be foreclosed upon on Wednesday, July 30, 2008 at 11:00 a.m.

The house was built in 1907, and offers 2,514 finished square feet, 3 bedrooms, and 1 full bathroom.  The property is currently assessed at $200,700 --- thus (potentially) offering a $52,700 equity opportunity.

Do you have questions about this foreclosure sale, or about the foreclosure process in general?  Feel free to ask (scott@cbfunkhouser.com, 540-578-0102).  Or review the notice in the Daily News Record.