Former American football player Clinton Portis reportedly sold his condominium in Miami to avoid foreclosure, an article by Realty Today reported on April 15.
Reports said JPMorgan and Chase had filed a lawsuit against the athlete and his mother over the property’s mortgage balance. The 32-year-old former running back reportedly bought the 2,070 sq/ft property in Bristol Tower in 2004 for $665,000. Portis was able to sell his property for $900,000 to settle his loan in full and earned a profit of 35 percent. The condominium was considered to be either Portis’ investment or a home provided for a relative.
Regardless of the situation, undergoing foreclosure is a frustrating experience. However, if this happens to you in Cedar Rapids, the lawyers at Hong Law, PLC may possibly give you other solutions to protect your home from being foreclosed. Speak with our lawyers today by calling (319) 632-1400 to learn more about your options.
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