Results 1 to 2 of 2
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
Hybrid View
-
04-26-2008, 05:38 PM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
Pain of Foreclosures Spreads to the Affluent
Pain of Foreclosures Spreads to the Affluent
This home on Hettiefred Road in Greenwich, Conn., came close to being auctioned off three times as a result of foreclosure actions. But each time, its owner managed to rescue his position.
By CHRISTINE HAUGHNEY
Published: April 25, 2008
GREENWICH, Conn. — This wooded town of roughly 60,000 on Long Island Sound — home to dozens of hedge funds, many millionaires and more than a few billionaires — is one of the wealthiest enclaves in the country. But even Greenwich is not immune to the wave of home foreclosures sweeping the nation.
New-Home Sales Fall to Low Last Seen in Early 1990s (April 25, 200 On Stanwich Road, for example, a house worth $2.6 million is close to going on the block. On Hettiefred Road, the owner of a 2,720-square-foot, four-bedroom colonial featuring a luxury kitchen, swimming pool and tennis court, has been threatened with foreclosure for months. Several dozen other owners in Greenwich have received foreclosure notices this year.
But there is a difference from most other communities. Auctioning off such homes is a far greater challenge here than elsewhere, as affluent but cash-squeezed owners often find ways to delay losing their homes, sometimes by coming up with just enough to make last-minute payments avoiding a final sale — for a while, anyway.
Just ask John Thygerson, who parked his Jeep sport utility vehicle in front of the empty house on Hettiefred Road on the flawless spring day last Saturday.
As a foreclosure auctioneer, he was scheduled — for the third time since January — to sell the house. But the owner, a construction business owner who has fallen on hard times, made a last-minute mortgage payment and the foreclosure was postponed yet again.
So Mr. Thygerson was there to shoo prospective buyers off the property, nod at inquisitive neighbors and stake out a new spot for a fourth set of foreclosure signs after the first three had been mysteriously torn down.
“We never had a case that had gone through three separate sales attempts,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
2 foreign nationals in ICE custody after alleged attempted...
05-18-2024, 07:35 AM in General Discussion