This auction stems from a reverse mortgage foreclosure against the estate of Marta Emilia Ortiz Tirado. The property is a rural parcel in Vega Alta with a residential concrete structure. The original reverse mortgage of $201,000 was issued by HUD in 2017 and will not mature until 2087, which is typical for reverse mortgages. The estate owes $156,236.47 in principal plus accumulated interest, mortgage insurance premiums, servicing charges, insurance, appraisals, inspections, and attorney fees totaling approximately $249,531. The winning bidder will acquire the property subject to the HUD reverse mortgage lien of $201,000, which is senior and survives the sale. Investors should conduct title diligence and confirm occupancy status, as the property may be occupied by heirs or other parties with possession rights.
42B Calle Golondrina · 00692 · Puerto Rico
Rural parcel 42-B in the Monserrate rural community of Bajura ward, Vega Alta municipality, measuring 0.3552 cuerdas (1,396.44 square meters). Bounded north by parcel 42, south by parcel 41, east by parcels 42-C, 42-A and 41-B, and west by Calle Golondrina. Contains a concrete residential structure measuring 36 feet (north-south) by 28 feet (east-west). Recorded at folio 110, volume 309, Vega Alta, property 4214, Bayamón Property Registry, Section III.
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