Of course we're sorry to hear about this. The bank is going to have a tough time with this asset on it's hands. One would have thought it might have been better for the mortgagee to try & change the terms of the mortgage agreement to let the current owners hang on. At any rate, from what I've seen, this property really needs a lot of money to be pumped into it to bring it up to snuff and make it competitive on the open market.
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