Mary Flores and her disabled husband say they have two weeks to come up with more than $60,000.
"We were doing good and then all of a sudden, boom, a couple of years, it just went up," explained Flores.
Flores says she took out a $40,000 loan when she purchased the house. At first, they struggled to make payments of $800 a month. The bank then increased the monthly payments to $1,100.
"That's too much," said Flores. "It's only me working. That's what I make in a month."
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6 comments:
The "bank" can't just raise the payments unless:
1. They are in default
2. They have a variable rate mortgage and the interest rate went up
3. They escrow the tax liability and the taxes went up
There must be more to this story. However. I do hope that they don't lose their home.
I'm sure Obama will help them out though they don't appear to be the type.
Maybe your comment should say the bank CAN raise the payment based on your list!! Was the elderly women aware of what she was signing?? Based on your answers she should have never been approved considering her debt to income. HOW MUCH ARE U DONATING?! Your the expert have you CALLED her?!
There is a lot missing in this story. They've lived there for 45 years and she stated she took out the loan when they bought the house. What has taken place over 45 years? Did they not make payments? Was she put on a repayment plan for missing payments? 45 years ago 30 years was the standard mortgage length so how did she get so far behind that the house must be paid in full and why is anything still owed 45 years later? The husband, if disabled, would be receiving ssi or ssdi why is that not mentioned? Seems to me they made choices over the course of time that have caught up to them and now they are using their ages to gain sympathy.
Hell. What is the fuss about? Let a rich 1 percenter foot the bill. Hell, they can afford it thanks to Trump.
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