Times Square Bomber's Home Auction Fizzles


Lender wins auction of Faisal Shahzad's Connecticut home Confessed Times Square bomber Faisal Shahzad may be infamous for an attempt to detonate a car bomb in Manhattan's busiest plaza, but the foreclosure sale of his former Connecticut home ended like most auctions these days -- back in the hands of the bank.

At this past weekend's foreclosure auction, no one countered the $227,400 bid by Shahzad's lender, Chase Home Finance LLC, for the three-bedroom Shelton, Conn. residence, reports Bloomberg.

The home went into foreclosure after Shahzad, who is in jail with five felony charges, failed to repay the $213,000 owed by July 31.The confessed bomber stopped making his mortgage payments in June of last year, around the time federal authorities say he traveled to Pakistan to visit a terrorism training camp.

But the interested bidders said the fact a terrorist once lived in the house didn't dissuade them.


Faisal Shahzad faces 10 terrorism-related charges will be sentenced Oct. 5 Instead, the three interested parties who showed up to the public auction told New Haven Register that the price of the foreclosure was too high.

In 2004, Shahzad bought the 1,356-square-foot colonial home, which he shared with his wife and two children, for $273,000. It was appraised at $243,000.

According to authorities, the bomb was made at a rented apartment in Bridgeport, Conn., about nine miles southwest of Shelton, where Shahzad lived after returning to the U.S. last February.

This is where he's believed to have loaded a homemade bomb, which was made of easily purchased items, such as alarm clocks, gas canisters, fireworks and gasoline, into a 1993 Nissan Pathfinder, and drove the car into Manhattan on May 1.

Shahzad, who plead guilty to 10 terrorism-related charges last month, will be sentenced Oct. 5.


More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.


************************************************

Want to learn more about home buying and home finance? If so, you won't want to miss
our online discussion with industry experts,
"What Works Now: Smart Moves When Buying a Home,"
created by AOL Real Estate in participation with Bank of America Home Loans.
Watch it now on AOL Real Estate.

Reader Comments (2)

2 Comments / 1 Pages

 

Add Your Comments


Please keep your comments relevant to this blog entry.Email addresses are never displayed, but they are required to confirm your comments. When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.


To create a live link, simply type the URL(including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted - no need to use <p> or <br> tags.


Compare Mortgage Rates

Mortgage Rates by Zillow