Quote:
Originally Posted by John1960
Veteran actor Burt Reynolds, a longtime Hobe Sound resident, is facing a foreclosure lawsuit that seeks to collect about $1.2 million for a mortgage on his nearly 4-acre Indian Hills estate on the Intracoastal Waterway.
A lawsuit filed in Martin County Circuit Court by Merrill Lynch Credit Corp. against Reynolds, BankAtlantic and Great Eastern Mortgage, contends the Emmy Award-winning actor has not made a mortgage payment since Sept. 1, 2010, on the home in the 16000 block of South Federal Highway, Hobe Sound.
Burt Reynolds facing foreclosure on Hobe Sound home - South Florida Sun-Sentinel.com |
I heard about this back in the Spring - sad story.
30yrs ago was a turning point in my life after seeing Smokey and the Bandit, motivated me to start college. Now - still in school working on my sixth degree...
What is even more upsetting -
He's working with the wrong type of attorney - who is steering him into BK un-needlessly. His problem is with the Lender, the battle needs to be modifying (restructuring) his loan into affordable payments. Instead his attorney is filing bankruptcy the postpone the foreclosure.
If is attorney knew what he was doing - instead of filing a chap 13 bankruptcy (which destroys credit), he needs to file a moratorium directly with the bank to postpone the foreclosure. Then restructure his loan into affordable payments. This has the least damaging effect to Burt's financial future...
If the issue is no affordability - the correct process is done through a deed in lieu, so Burt can what away free and clear.
It is truly amazing people do not understand the difference between attorneys. Compared to doctors. If a person needed a pair of eye glasses and went to a foot doctor,, the get a pair of glasses seeing two feet in front of them.....
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