TKC EXCLUSIVE!!! FULL TEXT: JAMES B. NUTTER EXPLAINS NOW SUSPENDED DOC WHEELER FORECLOSURE AND REVERSE MORTGAGE!!! FORMER KANSAS CITY MAYOR AND ICON REALLY OWES CLOSER TO $500K!!!
In the interest of providing an alternative perspective AND because this info is important for all of the people who engage in reverse mortgages we're glad this statement came our way.
ONLY ON TKC!!! READ THE FULL TEXT OF A STATEMENT FROM JAMES B. NUTTER REGARDING THE SUSPENDED FORECLOSURE ON FORMER MAYOR CHARLES WHEELER AND ALSO AN EXPLANATION OF REVERSE MORTAGES!!!
FACT . . .
ACCORDING TO THIS STATEMENT FORMER MAYOR WHEELER REALLY OWES CLOSER TO $500K!!!
Unedited version, check it:
NOTICE: James B. Nutter & Company has suspended the trustee/foreclosure sale of Charles Wheeler's Loose Park home scheduled for today at 12:30 p.m.
STATEMENT FROM JIM NUTTER SR. April 11, 2013
"The last thing we want to do is to foreclose on anyone. Our mission for 62 years at this company has been to help people purchase the home they want, and to help them stay there as long as they want. We have done everything we could, for the longest time, to help Charlie Wheeler keep his home. It is sad, but years of non-payment of property taxes, as required by law, makes it difficult for us to help him anymore. The best thing for Charles to do is find a place to live that is smaller, more manageable and more affordable. We just ask that, after years of promises, Charlie give us his word, in writing, that he will be moved and settled in a new location by July 2013.
NOTE 1: As a matter of clarification and understanding, the $40,000 figure that has been used in some stories about Charlie Wheeler's foreclosure predicament, is what is owed in unpaid property taxes only. With the $40,000 included, Mr. Wheeler owes closer to half a million dollars on his home in the Country Club District. People making donations through radio station promos probably need to understand that.
NOTE 2: To help you better understand the Reverse Mortgage loan process, we have attached wording from a James B. Nutter & Company brochure given to folks who inquire about the benefits and requirements of Reverse Mortgage. The following excerpt from the brochure copy (attached) is something that is stressed over and over again when someone applies for a reverse mortgage loan.
"You must make sure that you pay your property taxes and that hazard-insurance coverage is in place in agreement with the terms of your loan. - If you fail to pay your property taxes & hazard insurance coverage, your loan may become due."
Sent by Pat O'Neill on behalf of Jim Nutter, Sr.
O'Neill Marketing & Event Management