Foreclosure Always Gets A Deadbeat's Attention

We just heard back from a foreclosure on a 1st lien note we picked up last year in Fort Meyers, FL. When we bought it, it looked promising, manicured yard and a Cadillac in the driveway.

By the time we saw it when we were out in the area at a mastermind, the tub was in the front yard, Caddy long gone, and it was being rehabbed by what looked like a homeless man with most of his teeth missing.

After multiple lettters form us, our Realtor going by, and him hanging up on me when I called the number of his business, we hired Terry McGuire to foreclose. We offered him a Deed In Lieu of foreclosure and no reply.

We did have to forgive 1/3 of the debt due to it being longer than 7 years, so we fit under the statue of limitations, though someone told me each month he does not pay resets the clock. I'll have to ask Terry about that.

And now we get a reply to our Summons that he wants to work it out with us and is requesting a civil case manager so he can finally start paying his loan again. Its his "humble request and appreciation for further consideration regarding this case."

Depending on how nice he rehabbed the house, we will decide to continue with foreclosure or work out a loan modificaition.

And we find yet again, right before foreclosure is when they finally want to "work with us."