LaToya Jackson’s Las Vegas Condo

The grieving LaToya Jackson has not only had to endure the loss of her dear brother Michael but was put to the indignity of embarrassment as she had to vacate her Las Vegas Condominium late in 2009.

While Ms Jackson purchased the property some years ago for a mere $250 000, over 15 years the property has made some capital gain and allowed mortgages to be taken upon it to the tune of some $750 000.

Celebrities are ordinary people when all is said and done, and more often than not they come under the most impossible pressure to perform their lives as if they were excerpts from a stage play. This is simply unrealistic and as any celebrity will tell you, it is as hurtful and repressive to be hounded by the media and paparazzi over their financial woes, as it is over their personal relationships.

Eureka allows individuals such as LaToya Jackson to remain inconspicuous to the media and public a large while she conducts her affairs in privacy. Eureka engages with the lender in whose favor the mortgage lies, an make an offer to satisfy the debt in total. The lender will not only benefit from having a ready buyer willing to take the risk of the mortgage, but if hardship is made out and a short sale is agreed to, will be able to free up capital to invest elsewhere.

Once Eureka has reached agreement with the mortgagee, we will market the property in order to attempt a re-conveyance to another party. This process not only requires substantial capital to convey the property from the original lender, but also to finance a marketing campaign that will attract a suitable buyer in a property market that is less than inviting.  In any event, the conveyances do not indicate that Ms Jackson is party to the transaction and so will avoid publicity. Celebrities of all types experience similar forms of rejection and vulnerability. In many ways they are subject to inequitable standards that are impossible for any individual to meet. Particularly in times of financial concern a celebrity needs to be able to keep their career intact in order to further and preserve their income, and foreclosure of distressed property is the last thing they need.

If Ms Jackson had contacted Eureka we would have been able to provide her with peace of mind and security; security in the knowledge that she retains control over her decisions. With Eureka on their side celebrities is able to carry on their lives.

Category : Avoiding Luxury Foreclosures &Celebrities &Las Vegas