Celebrities
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
Like all other celebrities who were multi millionaires once, Lenny Dykstra announced also bankruptcy last summer. By that time, he also started to default on the glorious mansion. The mansion was purchased in the year 2005 from a popular hockey player named Wayne Gretzky. He had bought the mansion at astonishing rate of $17.4 million.
Last summer Lenny Dykstra had placed property in market for a lot more than what he bought it for in the year 2005. He asked for $25 million for his home situated in California, Thousands Oaks. However, the house had been damaged due to his financial struggles and frustrations. He was trying to sell the house from some time but soon he realized that he could be facing much serious consequences of foreclosure.
This was the time when he got bridge loan $850,000 from Index Investors firm and they had filed foreclosure documents on home as per Washington Mutual he owed $12 million. His six-bedroom house witnessed a price drop by around $16.5 million. And all of a sudden the price has again got pushed upto around $25 million.
Ex baseball player’s preliminary lawsuit alleged Washington Mutual, which is currently possessed by JP Morgan, to provoke him for borrowing, money more than he could afford to buy a home worth $17.4 million House. He also claimed that the bank had later reneged on promise for letting him refinance home. In the agreement with Bankruptcy trustee, Morgan consented on paying $400,000 for Dykstra’s estate and surrendering the interest in proposed $500,000 for the insurance settlement. Trustee inturn will pay 92,000 from the insurance proceeds for cleaning the residence and allowing bank to proceed with the foreclosure.
All this has affected the reputation of Lenny Dykstra. The foreclosure was in news for long and magazine named The Players Club displaying professional athletes to keep track of their money and not joining the league of players who have made millions and then ended up in monetary trouble, added Lenny’s name too. Since this time, he has been in news for various creditors and lawsuits related to magazine.
The famous ex baseball player would not have been a subject of gossip, if we were handling his case. Allowing borrowers to start afresh, we make sure that their names are not publicized.
Category : Avoiding Luxury Foreclosures &Celebrities &Headlines
The once Most Valuable Player of the American League has his home foreclosed.
Jose Canseco has been very infamous for breaking rules during the game, but this time the playfield is a little different. It is real estate for a change where he has broken a mortgage contract. This professional sports star who has turned a reality television star has quit his mortgage deal because he was not able to afford it any longer. He had purchased a home for $2.5million which is spread across 7,300 square foot in California USA. Its value was continuously decreasing with time but the amount he had to pay for the mortgage was not. So Jose Canseco decided to quit out of the mortgage deal right in the middle of it.
In a television interview, Canseco said that he did not find it sensible anymore to pay mortgages on a home that was technically not owned by him but someone else. His inability to repay the money back was the reason for all the fuss. And this has not been restricted to celebrities only. The sub-prime crises in the USA enabled many smaller investors to borrow money from banks for buying homes and the banks did not consider their credibility to repay the money back. This accumulation of outstanding loans went to great heights and shattered the banking system in USA whose jitters could be felt in almost every other country of the world. USA has seen an increase in foreclosures due to the sub prime crises.
The sports star also said that his case was a little different from other households who own just one property in their name and do not have any other place to go if they get evacuated due to foreclosure. He also believed that a major 41 percent of his earnings go the government and whatever he is able to retain, has to be used for the entire family, all this making his situation not much different from rest of the people.
Negative publicity can be avoided by our short sale transactions where keep the confidentiality and maintain no public exposure all the way to closing.
Category : Avoiding Luxury Foreclosures &Celebrities
The collapse of the housing market has shown its result among the celebrities too. As any average american citizen, celebrities or high positioned officials can face foreclosure. The most recent example is Chamillionaire, the millionaire rapper, who’s Houston mansion has been foreclosed by the bank. The mansion is a 7,583 square foot home, which Chamillionaire picked up four years ago for $2 million. The real estate has entered in the bank’s possession.
However, the rapper says, this was a business decision, because he ‘"decided to let that house go". The reason behind is the real estate market, which went down so the house had become a bad investment. Chamillionaire says it was his most expensive mortgage, he owns other homes as well, and he could easy afford the monthly tab for the $2 million Houston property, and there wasn’t any "financial negligence or anything like that". He just let it go.
Chamillionaire also added, that he never was in that house, simply because he was always on the touring. "I just didn’t feel like it was a good business investment to pay that much mortgage for a house I was never at."
Chamillionaire claims he is very far from being broke. "I still got all the cars," he said.
Contact us if you wan to avoid similar public exposures. We will conduct short sale on you distress property in privacy avoiding exposure to the media.
Category : Celebrities &Distressed Luxury Real Estate News
Foreclosures are coming fast as well as furious these days. One of the addition to the foreclosure league was Evander Holyfield. His mansion situated in the Fayette County in Georgia has witnessed foreclosure due to his bad bank balance.
Home worth around $10 millions all set for being auctioned by the Washington Mutual. Evander has been sued by some consulting company because of his inability pay the loan back of around $550,000. This can very explain reason behind this 45 years old boxing champion to return in boxing ring for heavyweight championship. Evander has made good money over course of years but like many other sports person has not been able to hold much of it.
As per the local reports, ten million dollar mortgage on property was due and home has gone for auction. As stated by the attorneys for Holyfield, foreclosure was altered but for the ex boxer, this came as a big blow on ego. The reason why he does not want to call boxing quits is because he is still paying back his mortgage. Interesting thing about the house is that he built this mansion in Fayette County’s northern part, which is mostly rural. But since that time, the place has witnessed much development focused on the black professionals. This part of the county is attracting other professionals including entertainers and athletes.
Evander appeared on verge of losing the home, located in south of Futon County line when he got a notice by the lending company. The boxing champion did not commented on the foreclosure listing. But it surely would be a disheartening process as the mansion is quite big with 109 rooms. Lien holder is demanding full payment of the original loan of $10 million. Having met the man and heard about his stories, reveals that he was a good man with big heart. However, excesses marking typical professional athletes lifestyle seems to leave them broke more than often. Use of some common sense and self-discipline can help them go a long way.
Saving homes from foreclosures is no more a daunting task with the assistance of our team. We take care of the short sales in the best possible way. Whether one is facing foreclosure or facing high mortgage payments, our team leaves no stone unturned to help our clients. The best part about getting in touch with us is that we make sure that no information is leaked. The celebrity status is taken care well by our team.
Category : Avoiding Luxury Foreclosures &Celebrities &Headlines
One of the foreclosures that did not really surprise people is that of Victoria Gotti. Daughter of John Gotti, mobster that was part of a popular reality show in 2004, seems like she will be losing the mansion to the foreclosure soon. She has been trying to put up her home for sale in the Old Westbury, New York from a long time and all of us have witnessed the price tumbling down from $4.4 million to around $3.2 million. New York post revealed that after first putting her home on sale in the year 2005, used for filming of the TV show- Growing Up Gotti, is getting foreclosed by the JP Morgan Chase. This star owes $650,000 for the credit payments. According to ban, the star owed around $25,000 on house every month but never cleared all payments.
Victoria Gotti has been running around for the foreclosure for quite some time now. In the year 2007, Supreme Court Nassau County’s justice decided that the foreclosure preceding were untimely but now decision of Brooklyn Appellate has approved lender’s motion for foreclosure summary judgment. Even after running around for so many years, the problems have not ended for this 46-year-old star. She declared outside the Federal court, Brooklyn that she would by no means lose her long island mansion. She further state that the only way she would leave the place, would by selling it. The house is at present on market for around $3.2 million.
On all this Victoria’s mother statement appeared as an attempt to make her daughter come clean of the case. She stated that Victoria’ s Ex husband named Carmine Agnello, took the mortgage on her name without telling her, which is not able to afford. The Mafia princess also commented on the same saying that the mansion and marital assets are part of divorce package from her ex husband, that she was not aware of. She is also insisting that there is light at the end of this tunnel. She also plans to clear all her debts after seizing control of the commercial properties that belong to ex husband, who has served nine-year prison sentence.
Victoria Gotti could have avoided this lengthy, exhaustive process by getting in touch with us. The transaction handled by our company is professional and discreet. One of the most attractive benefit to our clients that we do all this without any public exposure.
Category : Avoiding Luxury Foreclosures &Celebrities &Long Island
Jaena Keough is not the only star from television show named The Real Housewives of Orange County to dodge one of the potential foreclosure actions. From same show, Tamra Barney’s house was on sale from a long time too. After the short sale was announced, the price of house had to go down by $25,000.
Member of famous reality show, Barney has made a name for herself due to her outspoken ways. Early on, she also accepted that she invites trouble due to her outspoken behavior. Throughout the show, she proclaimed to be, hottest star and one can see amount of money she pours onto her looks. Therefore, the foreclosure came as shock for many.
The question that was raised after this declaration was why her house was on auction then. Her real estate agent while throwing some light on the issue stated that banks are usually pokey about getting the postponed foreclosures auction off schedule. Tamra told OC Register she along with her husband had lost around $600,000 by then and did not wanted to lose more. The interesting part was while Tamra Barney was listing agent, Barrington Properties was handling sale.
Tamra Barney’s house, which was on sale for ages has finally sold for $1.12 in Short sale. This self-proclaimed hot housewife in a TV show was lately able to unload her 5 bedroom home located at Posh area of California – Ladera Ranch. This house was initially listed for around $1.6 million, but the lender accepted lower offer from some other buyer to avoid it fall in foreclosure. Barney lost approximately $600,000 of money while transaction was closed.
Even though the foreclosure case has ended, it is remembered by all her fans and others. Her reputation of a lavish star has been shattered by this foreclosure. She could have avoided all this with our helps. Rather than making it public, our team would have settled this transaction with discretion.
Our staff handles the negotiation with the banks, making the process hassle free for the clients. We have been handling short sales of high value homes with keeping the confidentiality of the short sale status of the sellers. With our assistance, the whole scene would have been kept from the public with privacy for Tamra Barney pre-foreclosure case.
Category : Celebrities &Luxury Short Sales &Orange County
Academy Award winner actor Nicolas cage has been the talk of the town lately, not because of his any forthcoming movie but his property’s foreclosures in the recent past. Nicolas cage has acted in several popular movies like ‘Adaptation’, ‘The Rock’, ‘National Treasure’ and ‘Leaving Las Vegas’. The actor had built several properties of worth over millions scattered all over the world. But the huge number of properties owned by the actor is now reducing gradually.
Nicolas Cage purchased a home in Las Vegas in 2006 for a huge sum of $8.5 million. It was a palatial structure built across fourteen thousand square foot having 16 car garages, seven bedrooms, a home theatre, an elevator and each window gives a beautiful view of the city of Las Vegas. This home also has a spa in addition to a big private pool and at the same time ensures privacy as it is situated in a gated community. This home that once belonged to Nicolas Cage is now owned by bank due to foreclosure. In the month of July of year 2008, Cage listed this home for $9.95 million but later discounted it at $9.49 million. When the property was foreclosed, the price was discounted even more to the then prevailing Las Vegas property prices and was finally sold for $4,950,000.
After that, Nicolas’ various homes in New Orleans were also foreclosed and were sold to the bank for about $4.5 million. His property in Rhode Island is soon to be sold with an asking price of $12 million quoted by him.
Recently, Cage also lost his property in California to the lender because it failed at a public foreclosure. This property was spread across 11,817 square feet having six bedrooms and nine bathrooms. The public foreclosure auction for this property was apparently lacked enthusiasts to purchase the property. Cage had initially asked a price of $35 million but no one in the auction attendance was ready to pay even $10.4 million for the property. Though it was a beautiful and superb home at a preferable location, zero takers for it came as a shock to everybody.
Nicolas Cage’s financial woes are many. He has been through property foreclosures for his homes in Las Vegas, Los Angeles, California, Nevada and New Orleans. Cage clarifies that his financial troubles are shooting up due to ‘n incompetent business manager’.
Nicholas could have been out of all this mess and chaos by hiring our services for short sales of luxury homes, avoiding foreclosures and losing his properties to the lenders. We believe in making our customers well informed about the various issues related to foreclosures of luxury homes and help them in taking informed decisions after weighing all the pros and cons.
We offer expert advice and help for your properties sale and avoiding foreclosures that originates from our real estate knowledge. We also offer privacy for all the deals without any public exposure. This way your information is confidentially kept safe with us. Professional and confidential proceedings are what we guarantee to our customers.
Category : Avoiding Luxury Foreclosures &Bell Air &Celebrities &Headlines
Late Ed McMahon, who died at the age of 86 last year, was a renowned Television actor who featured in ‘The tonight Show’ as Johnny Carson’s sidekick. He also hosted ‘Star search’. The famous actor was entangled in property and finance woes. Ed McMahon started facing foreclosure problems for his home within a short time of its purchase. In the year 1990, he purchased a home in Beverly Hills for $2.6 million and had it in the market for some years. In 2006, he saw the latest listing price for his home at $7.699 million. At that time he decided to sell it off but he was falling short of payment by $644,000 on a $4.8 million mortgage loan. Moreover, there were few takers for his home because Britney Spears’ home was in the neighborhood and attracted many media persons; this was a turn-off for most of the buyers.
His property was facing a risk of getting foreclosed. In the month of August, year 2008, a real estate tycoon Donald Trump declared that he will purchase Ed McMahon’s home from the financial company and lease it back to the actor to avoid foreclosure. To avoid a foreclosure on his home, McMahon instead entered into a deal with a private dealer whose offer fell through in early September. Then Donald Trump renewed his offer again to Ed McMahon to purchase the Beverly Hills home.
Ed McMahon was among the initial celebrities to in recent past to go through the public foreclosure. Hi financial defaults amounted to almost five million dollars as outstanding loans. Donald trump finally purchased his home and leased it back to him as a gesture of courtesy. All this time, his home was in the market for about two years. The case of Ed McMahon is considered as a classic example for celebrity home foreclosures. Many critics to this case believe that McMahon had spent a lot more than he could have afforded and that is why he was indebted to such an extent.
The long time that is involved in this case not only posed a threat to his brand name but also caused a great amount of mental tensions and worries to him. A professional was all he could have gone for. Hiring our services for short term sales to avoid foreclosures will solve your financial indebtedness problems quickly and with a great degree of secrecy about the whole transaction. Not every one is lucky to get help from sudden and unexpected sources like McMahon. Hiring our professional services to avoid foreclosures of your homes sounds a smart option.
Losing your home to a lender due to shortage of credit for the loan repayment can cause humiliation to person specially if he is a renowned person in his own field. Our short sale services not only saves your home from going back in the hands of the lender or the bank but also offers you confidentiality and no public exposure of the transaction. Save your name and your home by hiring our expert services.
Category : Beverly Hills &Celebrities &Luxury Short Sales