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Successful collection of funds for mortgage holder
A client contacted our office indicating that her ex boyfriend had kicked her out of the home they had shared for 5 years. The client indicated that she had lent her boyfriend at the time $130,000 and in exchange, as security, he signed a mortgage naming the client as the mortgagee on the house he owned.
The client had tried unsuccessfully for over 2 years to collect the monies due and her ex-boyfriend continued to say he would pay when he could and that he had no ability do so. Not only was the client not being paid the money due to her, but her ex-boyfriend and his new girlfriend were residing in the home and living rent free, basically at our client’s expense.
We sent a demand letter to the ex-boyfriend once we were retained and informed him that unless he paid $130,000 plus all interest costs and attorney’s fees, we would be proceeding with a foreclosure on the mortgage held by our client immediately and forcing him and his new girlfriend out of the home.
Result: After we continued to press the issue, we were able to apply major pressure upon the ex-boyfriend and procured a $150,000.00 settlement for our client within 2 weeks of handling the claim. It was only through our aggressive efforts that the ex-boyfriend was convinced to pay our client the money she was entitled to receive.