When the economic collapse caused a housing crisis, some may have assumed that only those who struggled financially found themselves in dire straits and on the verge of personal financial collapse. However, the struggle to avoid home foreclosure and stay on stable financial ground was one that spanned across all economic classes of society. In fact, a well-known Miami Dolphins football player, Bob Kuechenberg, finds himself at the center of a Florida home foreclosure case.
Kuechenberg played 14 seasons with the team, and he was also a Pro Bowl choice six times. Back in 2003, the football player bought a house for $387,000. At some point in 2007, he got a mortgage for the three-bedroom home.
Back in 2009, the bank sued the player for not paying the mortgage. That suit was settled, and foreclosure was avoided. However, the bank now claims that he stopped paying the mortgage last year. They state that the mortgage is $538,000. The bank is taking action to get the home.
Despite a person’s economic standing, the inability to pay a mortgage can occur for anyone and leave a homeowner desperate for a way to avoid home foreclosure. For many struggling Florida homeowners, options like loan modifications and filing for personal bankruptcy have been an enormous help and have resulted in people being able to keep their homes. Anyone who is struggling now or finds that they are behind in payments because of past financial issues may want to investigate the options that are on the table and possibly available as a means of keeping a family home.
Source: bizjournals.com, “Miami Dolphins legend faces home foreclosure“, Shaun Bevan, July 11, 2014