John Stockdale, Jr. Negotiates Settlement with Regional Bank for Real Estate Speculators
June, 2014
John Stockdale, Jr. negotiated with a regional South Carolina bank to resolve a $250,000 obligation for unimproved lots on Johns Island, South Carolina. The resolution was made difficult because, while the lots were extremely underwater, one of two guarantors was collectible. This resolution involved returning the lots to the bank by way of deeds in lieu of foreclosure and granting a $150,000 consent judgment to the bank, which may be retired within one year at a substantial discount.