September 11th, 2006

Guadalajara Dr, Rio Rancho NM

6021 Guadalajara Dr NE, Rio Rancho, NM 87144

4 br / 2.5 ba / 2car; 2,834 sf; 0.5 acre lot, built 2005

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[Photos]

Loans:

Balance: 497k + 3 late payments and fees 10k = 507k aprox
Payments: $3,195/mo PI, Taxes and Insurance paid separately
Loans 80/20: 6.5% / 12.3% APR

Description: Builder model with TONS of upgrades. Very nice! Excellent condition. Great upper income area within a couple of miles to the new city Rio Rancho city center. Builder will be done with a lease-back in October.

Note: I heard that lately there has been some storms in the area and apparently the street and the driveway got affected pretty bad. Keep this in mind.

LATEST STATUS:

09/29/06: Currently listed in the MLS. The interest rate is pretty good on the 1st and so-so on second. Take over the loan or cash me out with new financing. The agent will release the listing for $2000 if I find my own buyer. Present your offer to me (save the commission) or through your own agent. If you’re offer is below my pay-off we’ll try to SHORT SALE it with the bank. So keep them offers coming!

02/12/07: Auction date is scheduled for Feb 14th, reduced price to 409 to get some offers and do a short sale.

03/28/07: FORECLOSED

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