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Homeowners Fight Back and WIN!

By in Mortgages with 0 Comments

Note: Whenever I use the term ‘fight back’, I think of David Horowitz and his TV show which aired in the 70’s. That was good TV, I tell you.  Great, now I have the theme song running through my head.

Anyway, some Staten Island Homeowners were pressured into a high-cost subprime loan, when they would have qualified for a regular loan without inflated associated costs.  Later, when they were facing foreclosure, they took the mortgage company to court and the court found in the buyers’ favor!  Excellent!

Read the whole story here.

Last year I sold a house to a lovely young woman with a poor credit score.  She was already set up with a lender that I came to despise.  Over and over I encouraged her to talk with someone else, as I felt what her lender was doing wasn’t right.  Well, the sale closed, she moved in, and within a year she had been foreclosed upon.  And guess why?  The subprime loan she was in was far too expensive for her to maintain.  Would the lender I wanted her to talk to have gotten her into a better situation?  I don’t know, but I would have preferred to know that she had explored all of options.

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About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them, which is exactly what I did when I formed the Cari McGee Real Estate Team in 2018! We have administrative and marketing personnel, as well as additional agents to serve you. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016, became Secretary/Treasurer of the organization, and was elected to Vice President in 2019. Want to talk about real estate? Click here to schedule a meeting with me!

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