February 27, 2012

Do You Gotta Have (137) Faith?

137 Faith Street

Purchased for $650,000 in July of 2005 with a first mortgage for $417,000, a second for $125,000 and $108,000 down, a year ago a notice of default was first filed for the property at 137 Faith, the first mortgage for which was already $19,666 past due at the time.

Postponed once before, tomorrow the small northern Bernal Heights home is once again scheduled to hit the courthouse steps with $447,041 owned on that first as of this past July.

As we reported back in 2009, the short sale of 110 Faith Street closed escrow with a reported contract price of $550,000 that September, 24% under its $720,000 purchase price recorded in October 2005.

You’ve Gotta Have Shouldn’t Have Had Faith: The Follow-Up [SocketSite]

First Published: February 27, 2012 11:30 AM

Comments from "Plugged In" Readers

Meanwhile, they are asking $949K (or $621/sf) for 146 Faith. Good luck with that.
In San Francisco, Faith is a dead-end street.

Posted by: vanillablue at February 27, 2012 11:55 AM

That house looks awfully surprised. :0

Posted by: eddy at February 27, 2012 11:55 AM

If it was painted red it would be a perfect match for one of the Blockheads from the Gumby show.

Posted by: Rillion at February 27, 2012 12:09 PM

Slate on the stairs would have been killer.

Posted by: bernalkid at February 27, 2012 1:14 PM

Well, I think the bank will have no trouble getting the $447k on this at auction. The question is: is that going to be the actual minimum bid or will it be higher since there was a second mortgage?

In any event, I'm sure we'll see this come up again for sale within twelve months as a foreclosure flip.

Posted by: Brahma (incensed renter) at February 27, 2012 4:04 PM

Sold for $750,000 on 8/2/2013. Whew.

Posted by: jack at August 6, 2013 7:34 AM

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