Sample Transactions

Chicago couple faces eviction by tax buyer

A desperate couple needed a solution to save their north side townhouse of over 20 years.  After repeated attempts with ãsub-prime lendersä for over a year they were turned down with only days left until eviction.  We were contacted by one of the brokers to see what we could do.  We negotiated a reduced payoff with the tax buyer.  Along with our client, we developed a workout program that made sense for them.  We paid off the tax buyer and brought the real estate taxes current.  Our program gave our clients 4 years to show a consistent payment history, time to payoff their Chapter 13 bankruptcy and to re-establish credit for refinancing.

Estate needs help selling Waukegan property to heir

The attorney for an estate contacted us to see if we could help his clients.  There were three heirs to the estate, two brothers and a sister.  They all agreed that the sister should retain the property that she had been living in for many years which was part of the estate.  The property needed to be financed so that the brothers could receive their share of the equity in the property.  The problem was the sister had no credit established and could not get financing.  We proposed that we purchase the property and sell it to the sister on contract.  The sister has four years to establish credit, maintain a payment history with us and then finance the property with a conventional lender.  Everyone is happy!

Lincolnshire family facing foreclosure sale

A couple had filed a Chapter 13 bankruptcy over a year prior and had defaulted on their monthly payments.  Their home was going to be sold at public auction in a few days.  They had contacted several brokers and lenders receiving only denial letters.  We sat down with the couple to review their financial status and to see how we could help.  After a review it was agreed that the couple couldnât afford the property and needed to sell.  There was some deferred maintenance on the home and it needed repairs to sell for its maximum value.  Lincolnshire is an upscale area.  A distressed property would be very hard to sell to a retail buyer.  Our solution was to spend $20,000 in bathroom repairs, kitchen updates, painting and new carpeting they so would be able to realize a quick sale for maximum value.  We solved the foreclosure on the property and funded the repairs.  The property was sold 2 days after listing for full list price.  The couple realized enough profit on the sale to put a large down payment on a new home in Detroit where the husband had secured a new job.  This is just one of many similar success stories.