Foreclosure Can Happen to the (once) Rich and Poor Alike
According to this article, The producer, songwriter and performer owes $2.5 million on the 9,441-square-foot home but is unable to make the monthly payments, according to a mortgage foreclosure notice. The property is valued at nearly $3.7 million, Fulton tax records showed.
“The debt secured by said Deed to Secure Debt has been and is hereby declared due because of, among other possible events of default, non-payment of the monthly installments on said loan,” the legal notice states. “The debt remaining in default, this sale will be made for the purpose of paying the same and all expenses of this sale, including attorney’s fees (notice of intent to collect attorney’s fees having been given).”
No one is immune to bad fortune and hitting a rough patch. Going through a foreclosure is an awful experience and should be met head on when you realize that you’re having financial struggles.
We at Swing Real Estate help individuals going through foreclosure in the greater Charlotte area. We will buy your house with cash, and help your credit from further being ruined.
In North Carolina, the foreclosure process can take a very long time and homeowners get a false sense of security in the bank dragging their feet in finalizing the foreclosure process.
Recently a homeowner, who is a doctor, contacted and informed us that he had not made a mortgage payment on his rental property in 3 years, has been going through the foreclosure process for 2.5 years and the bank was finally auctioning their property in early 2015. Now the homeowner was stressing and trying to figure out his options. He is one of the fortunate individuals who has a primary residence and the house being foreclosed on is not the one in which he and his family is living in.
Foreclosure can happen to ALL people! If you are going through a foreclosure or are behind on payments contact us immediately at 888-277-2711 or visit our website here.