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Even million-dollar mansions can become big bargains. That's especially true when banks repossess them from delinquent borrowers and put them back on the market.
Greenwich has long been home to Wall Street titans and powerful CEOs.
With a median income that's nearly three times the national norm, homes here are grand and spacious -- and this one is no exception.
Watch: Where foreclosures are being snapped up
Sitting on a two-acre lot lined with trees, this Colonial home in the Cos Cob neighborhood features a two-story entryway, a den with a vaulted and beamed ceiling, wood-paneled walls, fireplaces, a game room, wine cellar and a hidden wet bar in the great room. There's also a mother-in-law suite.
The previous owner put the house up for sale in early 2012 for nearly $4 million but, after failing to sell, it was foreclosed on last July. The lender re-listed it for about half the price.
For further information: Trulia