From Yo’s archives – a hot tub in Clearing

Five years ago today we were writing about a 3-bedroom raised ranch with a back yard hot tub pavilion in Clearing.

The recently remodeled home, at 6504 W 60th St, was listed for sale at the time in the $350s. The hot tub apparently wasn’t enough of a draw, and the home went into foreclosure in August of 2007.

The bank-owned property found a new buyer, in January of 2010, for $125,000. It resold 3 months later for $187,000, subject to a $183,612 mortgage.

Given the nearly 100% financing, will the new owner find himself underwater and in hot water?