Price reduced on this DeLand fixer upper
December 27th, 2008 by admin
This featured home is a HUD home being offered for sale in DeLand. The home is located just east of DeLand.
This is a 1,040 sq. ft. 3 bedroom home with a 1 car garage, built in 1986. The lot size is showing as 75 X 168.
The property appraiser reports the assessed value of this home at $99,566. HUD’s asking price is $73,600.
Contact me to view this or similar homes for sale in DeLand.
HUD site | Property detail page | Property conditions
October 11th, 2010
AIG provided financial insurance for the firm who purchased the mortgage paper. When it turned out that paper was risky AIG found itself over exposed, having to cover so many bad debts. (BTW, not because individuals couldn’t afford the property. . . mostly because the terms of the loan were changed, interest rates skyrocketed, payments doubled, etc. . . or, the house declined in value, making the loan risky by definiton, because the property could no longer secure it).