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Disabled Couple Faces Foreclosure [View All]

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The Straight Story Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-21-07 11:06 AM
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Disabled Couple Faces Foreclosure
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Disabled Couple Faces Foreclosure

A foreclosure eviction hearing is headed to court this week. There are hundreds taking place up and down the state but what makes this one different are the clients who are being forced out of their home.

Jackie Mahone-Tyson and her partner Karen Mahone-Smith are blind. Corrective lenses allow Mahone-Smith to see enough to function. Mahone-Tyson lives with a total loss of vision. Both are on SSI, receiving monthly checks totaling less than $1,800. They qualified for a $265,000 loan through IndyMac, the nation's second largest home mortgage lender behind Countrywide.

The loan was initiated in the spring of 2006. By December 2006 the women were behind on their payments. In July of this year, they were in foreclosure.

"I just feel that we were absolutely given the wrong steer," Mahone-Tyson said, first from the loan broker who charged nearly $10,000 in broker's fees and commissions. Then IndyMac took another $2,000 in fees. The couple's monthly loan payment is just short of $1,600. That leaves them less than $200 a month to live on.

http://www.news10.net/display_story.aspx?storyid=35313
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