Please Have Mercy!

I've been working on a file for over 1,000 days. It's been teetering on the brink of foreclosure for quite awhile. We are on our 6th set of contracts and hoping to settle within the next 30 days. After all this time, a new judgement has popped up against my client. It's one of those dastardly credit card judgements.......not a small amount. It's for $9,000. The credit card company knows that we can't complete our closing without this being paid, or released.

Even though the client has no money to speak of, the credit card company is unwilling at this point to release the judgement. They still hold out hope that they will receive some money. The thing is that the client has no money! They have lost 2 businesses and now their home. They are living with family and only receive approx. $1,000 per month in income.

If we are unable to go to settlement, the folks who stand to get hurt is the buyer. They will lose out on their dream home, their anticipated $8,000 first-time-home-buyer tax credit, the monies they have put out-of-pocket for applications and inspections, etc. The BUYER is the one who will really bear the brunt of this situation. The property will go to foreclosure and guess what? The credit card company will not receive any of that money when the sheriff sells this home on the steps of the courthouse on Nov. 30th.

So, I ask Capital One and their attorneys to Please Have Mercy! Please use your common sense and realize that your investment has soured and there is no hope for payment. While I am sorry for this situation.................please don't punish the buyer who is caught in the middle.

Please Have Mercy!



Chris Hooks 856-628-2710