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Even Millionaires Face Foreclosure

Posted Saturday, January 12, 2008

What Does Pop Superstar Michael Jackson Have In Common With 108 Local Charleston Homeowners ?

If this question was asked by Alex Trebek, the long-time host of the popular American television quiz show “Jeopardy” it would most likely stump even the sharpest contestant.


No, unfortunately, the answer is not:  Party like a rock star!


To use the vernacular Jeopardy terminology: “What is Foreclosure?”


Even millionaire superstars like Michael Jackson are not immune to the current mortgage problems .That’s right …”THE” Michael Jackson, is just weeks away from losing his famous Neverland Retreat to foreclosure unless he can come up with $23,000,000 (plus $212,963 dollars in back payments, interest, penalties, and attorney fees!)


Jackson, who has not lived in his Neverland property since his acquittal on child sex charges in 2005, has resources, investments and even other homes that he could use 

to stop the foreclosure process…unlike the 108 local Charleston, Berkeley and Dorchester County homeowners who are uncertain as to what their next step will be.


While some of the properties that are going to the foreclosure auction belong to investors who were unable to continue paying increasing adjustable rate mortgages or could not  keep paying tenants in their properties, many of the homes belong to folks who tried for months to sell, and blamed the economy, the market , the Realtor, everything EXCEPT the fact that they were simply asking too much for their property.


If you are in facing foreclosure, have no equity, going through a divorce, have two house payments, tired of dealing with rentals or just plain tired of the stress, one option is to find a local home buyer in Charleston that specializes in buying preforeclosures . Local home buyers can help you sell your house fast and avoid the side effects that can follow you for years!  Sell my house fast to a local home buyer.


But what about the other hard working South Carolinians who live paycheck to paycheck and want to keep their homes from being foreclosed on?


As most people who have suffered through the foreclosure nightmare in Charleston learn…it’s not about “Location, Location, Location”…it’s about TIMING...and when your lender is suing you, you need to learn as much about timing as you can: for example, there are 16 steps in the foreclosure process in South Carolina and most Charleston homeowners in foreclosure do not :


 (1) Know where are they in the process? 


 (2) Know how much time is REALLY left?


(3) Have access to the resources, advice, and assistance that people of wealth like

      Michael Jackson has at his disposal .


Even more frustrating is the fact that some of the homeowners who are facing foreclosure and eviction in the next few weeks do not even realize that the attorney who filed the “Notice of Default” works for the Lender, not them…and almost none of them are aware of the nine (9) options that most lenders hope they never find out about.


If you are in a situation like this and would like to learn the nine  (9) options before you run out of time and your house is auctioned on the courthouse steps, contact your local Charleston affiliate at ExpertHomeOffers for a FREE, Confidential, No-obligation consultation.


If you (or someone you know) are behind on their mortgage payments, frustrated with your mortgage lender, looking for a way to stop the foreclosure on your home and end this nightmare….you can get a FREE copy of the “Do It Yourself Guide To Preventing Mortgage Foreclosure.” by calling the toll-free, 24 hour recorded message line at 1-800-896-0402…and remember, more options are available to homeowners who act quickly!



Bobby Wallace a local ExpertHomeOffers.com affiliate is a real estate advocate that invests in residential and light commercial real estate in the Charleston, S.C. area. He purchases, renovates and makes them available to buyers with rent-to-own and lease option programs that offer No Qualifying and No Credit Check.
(Most of the properties are funded using private investors, who earn as much as 12% return on their money!) He has over 25 years experience as a financial planner, management recruiter, sales trainer, consultant, and was founder and publisher of South Carolina Amateur Golf Magazine.