Stephen Baldwin – The Usual Suspect

The Baldwin brothers – Alec, Daniel, William and Stephen, of 30Rock, Mulholland Falls, Flatliners and The Usual Suspects fame respectively, have thrilled audiences with their theatrical talent on screen for almost two decades.

Stephen Baldwin however, having been raised with his brothers on Long Island, was experiencing what millions of Americans are going through, the threat of foreclosure.

So gamely is the devastation of the US property market however, the incidence of distressed property is not a monopoly of the working classes; it is shared in abundance with stars and celebrities from all areas of human endeavor.

Stephen aged 46, is still working in the movie business and no doubt has the opportunity to call this his vocation. However, he and his family have also hard difficulty in meeting the financial obligations pertaining to an $825 000 mortgage in favor of Bankers Trust.

The property in Old Mountain Road, Nyack, New York State, is a beautiful multi-storey circa 1850 home purchased by the Baldwin’s in 1997 for around $500 000. Certainly the property experienced some capital gain in subsequent years as financiers were willing to take legal mortgages on its value. Indeed in a bid to relocate to acreage, the Baldwin’s attempted to market the property immediately prior to the collapse of the property market in 2006. At that time it failed to sell at $3.6m and now the position is history.

All celebrities enjoy the fruits of their success, but rarely do they enjoy the public humiliation and personal intrusion into their family’s circumstances when scandal strikes close by. In the aftermath of the Global Financial Crisis, the media have been careful to report the demise of as many celebrities as possible, in order to secure a following by Americans who gain some comfort from knowing that they are not alone in their troubles. To many this seems a crass manner in which to conduct the press however, it is by now part and parcel of the risk of doing business in Hollywood.

It remains open however, for celebrities who find themselves in compromising positions such as imminent foreclosure or distressed property of some sort, to have their predicament managed effectively by a discrete 3rd party such as Eureka Luxury Short Sales.

Eureka specialize in assisting people avoid the consequences of foreclosure, and to consolidate their life choices before they spiral out of control, when matters are attributed to the responsibility of a mortgagee. When Eureka is engaged by a celebrity homeowner, discrete negotiations are undertaken with the mortgagee with a view to settling the outstanding debt in total. Not only will this short sale conveyance alleviate the need for foreclosure proceedings and preserve the celebrity’s financial reputation, but it will give the celebrity time to either regain their financial composure. Eureka will be conveying the property to their name, and will cover the extensive marketing expenses they outlay in order to obtain a healthy price for the property. Either way, the celebrity homeowner avoids the ungainly publicity that often visits them in such circumstances, and enjoys the freedom to negotiate a favorable agreement with Eureka. From here they can regain their financial control.

Category : Avoiding Luxury Foreclosures &Celebrities &Headlines &New York