Extreme Makeover is a reality television show viewed by many Florida residents and others around the country. The show chronicles the renovation of an existing home for a deserving family. Nine years ago, a woman in another state watched as her home was completely redone on television. However, she now faces home foreclosure and must leave her residence.
The woman’s home was rebuilt by the reality show and hundreds of volunteers, following the death of her husband in 2008. The renovations on the house caused increased insurance costs and taxes, thereby resulting in higher mortgage payments each month. Following a car accident, the woman fell behind in her payments. After filing paperwork to stop a foreclosure, she learned that her mortgage had been acquired by a new servicing company.
The homeowner continued to struggle with making her payments. She sought assistance from various mortgage programs but never qualified due to the equity in her renovated home. The woman contends that it was difficult to communicate with the servicing company, and she stopped submitting payments when she was uncertain where the money was going.
The company, Ocwen Loan Servicing LLC, has been cited by the State of Michigan for repeated violations of mortgage law. Documents from the state showed that Ocwen improperly handled escrow accounts and maintained inaccurate records. In spite of the mishandling of accounts by the servicer, the woman’s home went into foreclosure again. She was unable to gather the funds she needed during the redemption period and must now vacate her home.
Florida residents facing home foreclosure would benefit from a discussion with a knowledgeable bankruptcy attorney. An experienced lawyer can review a person’s financial situation and determine his or her best course of action. Every effort will be made to develop a plan that will help clients regain control of their finances.
Source: firstcoastnews.com, “Michigan woman loses home featured on ‘Extreme Makeover’“, Beth LeBlanc, May 28, 2017