My Life in Argentina and Beyond

Wednesday, March 26, 2008: I have been thinking about the GA foreclosure fiasco. I have been thinking about it a lot. And I ask: With a credit score of 754, didn't the mortgage company ask why? I mean, why a person with an excellent FICO score would be offered two mortgage loans with such high interest rates--one for 9.75% and the other for 13%? Didn't Novastar find that strange? Aren't high interest rates offered to people with poor credit? Didn't they, the mortgage and credit professionals, see a red flag? Wasn't it in their best interests (and mine) to warn me? Or to talk to the loan officer, ask him questions?

It is a very difficult decision to make. Walking away from your home is not easy, even if there is little or no equity in the home and the monthly payments are overwhelming. Mortgage problems can keep you awake at night and your life becomes sheer hell.
Unfortunately, I am speaking from first hand experience. I had no equity in my Atlanta condo. In fact, I had overpaid for it without realizing it. I didn't walk away, but thought about it endlessly. My home foreclosed in November 2005 due to mortgage fraud and predatory lending on the part of the loan officer. My advice is: Don't let it happen to you. Never ever. Eugenia Renskoff

February 13, 2008: The help being offered by the government to those people facing foreclosure is welcome news. Getting a reprieve from one of the most horrible experience in a person's life is good. At least, it gives them time to rhink and talk with the lender, and it could mean a new beginning. I did not have that type of luck back in 2005 when my condo in Atlanta was threatened with foreclosure. Although I tried everything, including suggesting a short sale to Novastar, the lender, it did not help. Nothing worked and suddenly that beautiful 2-bedroom condo was gone.

January 9, 2008; I got a letter today from the GA Attorney general's office. Apparently they did not receive the first letter I sent them from Argentina over a year ago. They will be forwarding my concerns to the GA Dept. of Banking and Finance. I already filed a complaint with them, but it does not hurt if they look at my case again. Not good enough, though.
Now I will resend my letter to the F.B.I., as well. Losing my condo in Atlanta was the most devastating and heartbreaking event in the last few years and it could not have happened without the help of the loan officer and the realtor. They were professionals and knew what they were doing.