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.
Pat O'Neill
Principal
O'Neill Marketing & Event Management
############
Fundraising is now at more than $12,000
ReplyDeleteThis is 25... 30 tops!
ReplyDeleteOwn Your Own Home!!!!
ReplyDeleteROFLMAO
Bad PR. Especially for a city (and banks) that claims to care so much about everyone.
ReplyDeleteA former Mayor ending up living in a tunnel somewhere in his own city would blow the whole facade apart.
All of us who were told that if we worked hard and saved money
ReplyDeletewe could retire with few financial worries
They forgot to tell us about the tech bubble, followed by the housing bubble,
followed by recession and anthropocentric global climate change.
They told us technology and medicine would save us.
They forgot to mention the CO2 issue and environmental degradation;
the cost of healthcare and the deadly side effects of pharmaceuticals.
They talked us into believing that our homes would appreciate enough
to buy retirement and that putting money in the stock market was better than a savings account.
They forgot to mention that only insiders, brokers, players, and the already wealthy
get rich from the stock market. For the rest of us it is more like carnie midway games—there’s no way to win.
Our 401Ks, pension funds, IRAs, and Roths are built on a house of cards,
but it is too late: we’re trapped in the game.
We hope the market will go up even though we despise the thought of corporate rule.
We are at the mercy of the 55 wall $treeters who peer over the balconies and laugh at our angst.
The corporations and the banks are sitting on piles of our money.
They withhold jobs, pad their pockets, and offer us pink slips and .03% interest.
And what are we told to do about this financial crisis?
Go shopping!! Spend money! What money? We don’t have jobs!
We can barely afford groceries.
7:38, how is it bad PR when Charlie Wheeler, who owned lucrative businesses, held high elective office, has nice pensions and two advanced degrees, cannot manage his finances? How is that a black eye on the City or Nutter? Why does Charlie Wheeler, a guy who doesn't pay his bills, deserve special treatment?
ReplyDeleteI wish the doofuses who were donating to help Charlie continue to mooch off others would give their dollars to an organization that truly helps others in Kansas City. Wheeler doesn't deserve the help.
This just serves to point out that nobody really OWNS their property. You merely rent it from the taxing authorities. Yes, that's right. You fail to pay taxes, the property is taken from you....SO, do you ever own it? Not really....
ReplyDelete8:08
ReplyDelete+1
You too can be the proud owner of a new home!
ReplyDeleteGreatest scam ever.
I'm sure there is already a space for him planned at the new airport.
ReplyDeleteRight on 8:08. Pay cash for your home. Live in it for 30 years. Don't pay your taxes. See who really owns it.
ReplyDeleteThe heat was too hot in SOMEONE'S kitchen.
ReplyDeleteHAHAHAHAHAHA!!! Nutter got his balls buttered!!!
I LIKE THE O'Neil connection! GOTTA SAVE THE OLD MAN'S SCREWED UP REPUTATION.
Now how is this failed political machine going to put together a viable Skippy campaign? Circo might ramp up her new city committee assignment and cozy up to the Eastern Jackson county mayors who still dream of their own toy train. New support for the County Exec seat. Sly would be happy to help fundraise just to keep her out of his hair.
This is a shame. I like Wheeler but this is a lot more complex than pr. A previous comment was right. Our whole city is coming apart.
ReplyDeleteYa wanna know how bad the banks are fuckin ya?
ReplyDeleteDon't bother doing the research, here is why.
George motherfuckin Will, that died in the wool conservative voice of reason and lover of baseball hates Banks worse than Andy motherfuckin Jackson.
http://www.washingtonpost.com/opinions/george-will-break-up-the-big-banks/2013/02/08/2379498a-714e-11e2-8b8d-e0b59a1b8e2a_story.html
Thats right, Geroge Will penned that scathing indictment and it speaks, as they say, volumes.
Good find chuck. Sub prime is still selling us to the Chinese.
ReplyDeleteAnonymous @ 7:38 is right on. Wheeler should not be treated any differently or special for not following the terms of the Reverse Mortgage agreement. Two-years or more of not paying your property taxes, which by the way was paid for by Jim Nutter along with the property insurance premiums. Wow, wouldn't the thousands of Reverse Mortgage account holders would like their lenders to do the same to forestall foreclosure on their home for two years or more!! This is more a PR nightmare & sympathy vote for Wheeler, which also questions his past leadership as mayor and state representative.
ReplyDeleteWheeler has had much more opportunity than most. I feel for him about medical bills and taxes - him and MANY others. Now after he's had opportunity to make lots of money and probably thought like a lot of these career politicians that the rules don't apply to him. Now we're all supposed to feel sorry for him? There are a whole lot less fortunate out there who deserve help and haven't been getting special treatment and aren't going to get any help. It's time for him to learn to live within his means like the rest of us. Oh wait - he's a politician!
ReplyDeletefuck Wheeler...pay your bills nigger.
ReplyDeleteDamn I just had a really hard time paying my taxes. But i did it. I need to have a surgery but can't afford it My mortgage is with Nutters. Wonder if he would have felt sorry for me. Nah I'm just working class. Oh I'm not current on my KC earnings taxes. Waiting for them to come after me. They can take mine out of the $15K. I moved out of KC proper so I don't have to give those crooks any more of my money to waste.
ReplyDeleteHere is an excellent article from last JUly concerning Captains of Industry, especially in banking.
ReplyDeletehttp://online.wsj.com/article/SB10000872396390443931404577549223178294822.html?mod=googlenews_wsj
It iw worth the read and illustrates why Big money men are more and more, Democrats.
Thats right, Democrats.
wheeler should have moved to a smaller home along time ago. but does this really surprise anyone, look at how the finances of the city are run.
ReplyDeleteWhere are his children?? No one is helping him rage against the dying of the light.
ReplyDeleteIt's hard to feel sorry for someone who lived a life most people only dream of. I live in a very modest house, work my ass off, pay my bills, and do what I can to get by and raise my kids. I don't have an airport named after me, don't live in an exclusive zip code, and certainly don't have a $600,000 house. I don't have people doing fundraisers for me to continue to live in that house.
ReplyDeleteIt's amazing how the world works. The working man is a sucker.
true dat.
ReplyDeleteThey have bent over backwards to accomodate him.
ReplyDeleteCALLED IT!
ReplyDeleteFunny.
ReplyDeleteHe was a POS as Mayor for the most part and still is it appears. But if people like Craig Glazer feel sorry for them you know there has to be something shaky about them.
ReplyDeleteWheeler is a grifter.
ReplyDeleteShame on you people for disrespecting one of the greatest mayor's we've ever had.
ReplyDeleteYou really need to get in touch with mental healthcare professionals if you have such horrible things to say about such a nice man.
7:31 Sorry but your the delusional one!
ReplyDeleteAny bets on how much tax he will pay on the money he gets?
ReplyDeleteNone, I mean come on you know he isn't going to claim it
Chuck: Both Democrats and Republicans are at fault as are we who put them in office.
ReplyDeleteAnd 7:40: Good post, but you forgot one thing. Low interest rates. Savers are getting royally screwed these days.
It's just too fucking bad for former Mayor Wheeler. The man must be a moron to have ended up in this position. Hell, I know Berkley was wealthy to begin with but so what? He still is and you won't see his home foreclosed and even Funkhouser, who had his ups and downs didn't lose anything to the repo man. No, Wheeler's just a very poor money manager.
ReplyDeleteEx Mayor Wheeler had a pension and still came to this situation.
ReplyDeleteThink of the burden of taxes that Kansas City's current Mayor Sly James are creating. Bond issues for the unneeded Streetcar and soon for the airport will endebt not only us, but generations to come.
Then there are the TIFs so crony projects pay no taxes (more taxes for the rest of us). Pensions for city retirees....
So the citizens of KC, most of whom do NOT have pensions, will have to work until they die just to affor to pay the taxes to live in their existing home.
Stockton, CA just went bankrupt.
I wonder how KC's finances compare?