Fox Business' Tom Sullivan seeks short sale of home

[Newsjock]

Source: Sacramento Bee

Even financial gurus like Tom Sullivan aren't immune to the foreclosure mess.

The longtime Sacramento investment adviser and commentator, who now works for Fox Business Network, is attempting to unload his former Granite Bay home in a short sale after being threatened with foreclosure.

Sullivan and his wife, Caroline, have listed his five-bedroom, Mediterranean-style house on Wexford Circle for $1.15 million. They paid $2.5 million for the home in 2004 and took out a $1.6 million mortgage, according to Placer County property records and MetroList Services Inc.

Sullivan moved to New York in 2007 to become an anchor on the Fox Business Network.

Read more: http://www.sacbee.com/2010/10/21/3120279/financial-guru-tom-sullivan-seeks.html

[tularetom]

1. Long time right wing KFBK tool and frequent limbaugh fill in

Too bad so sad.

[notadmblnd]

2. Hi's employed by Fox and can't make his mortgage

Sounds like someone was just under water and stopped making payments so he could get out it. Sounds like a scam to me.

[louis-t]

3. Can he be approved for short sale?

Normally, one would have to have a financial hardship. I imagine taking a job in another state could be considered hardship. I hope his lender is Bank of America (6 months to do a short sale). :evilgrin:

[rfranklin]

4. People who take out mortgages they can't afford deserve to be foreclosed...

And they are the cause of the entire financial meltdown.

Isn't that the Fox mantra?