Saturday, February 23, 2008

Nancy Corazzi

Nancy Corazzi, House ATM User
What is wrong with people? Since when did house appreciation become wealth before you've sold your home? It's as though HELOCs have become a way of life. Check out Nancy's gourmet kitchen. Don't get too attached to it, Nancy, you're on your way out of your HELOC-home. Perhaps if people would live within their means we wouldn't be in this mess. Yet another woman in the USA unwilling to settle for less. A phrase comes to mind: "We can do this."

I coined this phrase a while back:
Livin' high on the hog HELOC.



9534 Westwood Dr, Ellicott City, MD
5 beds, 3.0 baths, 2,578 sq ft
Sale History: 10/05/1998: $178,800
From other blogs:
Nov '01 - Refi $213,600
Apr '02 - HELOC unknown amount
Dec '04 -Refi $375,000
Oct '06 - Refi $381,000
Oct '07 - HELOC opened for $95K (spent $50k before it was pulled)

2008-02-23
: Homeowners Losing Equity Lines
In one brief phone call, Nancy Corazzi's lender yanked away what was left of the $95,000 home equity line of credit that she and her husband took out five months ago.

"I got off the phone and I was shaking," said Corazzi, who was using the money to pay preschool tuition for her twins ."I was near tears. We needed this credit line to get us through some tough times." (How was she planning on paying it back??? So, paying expensive tuition for pre-school is tough times? WTF!!!)

Corazzi initially used her line to consolidate debt. She and her husband took out the credit line in October because they thought her job was in jeopardy. (Job in jeopardy, take on more debt. Huh?)

Meanwhile, they are trying to open a new home equity line elsewhere, but chances are slim given the change in Nancy Corazzi's job status and the drop in their home's value. Five months ago, the Elliot City house was appraised at $560,000; the lender says it is now worth $469,100.

"I told them, 'You guys are wrong,' " Nancy Corazzi said. "They said, 'Sorry, this is what we're doing in the entire area.' " (Tell 'em, Nancy: You guys are wrong! I need this credit to sustain my artificially high standard of living!)

Corazzi said she was blindsided by what's happened. "I didn't know they could do that. I thought I was too smart to have something like this happen to me." (If she was so smart, why didn't she see the Housing Bubble? Does she read Housing Panic or Dr. Housing Bubble? Not too smart if you don't.)

14 comments:

Kevin said...

Great article, thanks for the comment on my blog. Seems we are all picking up on this crazy woman. Where'd you get those pics?

Kevin
Baltimore Housing Bubble

Tyrone said...

The pictures came right from Zillow. I'm willing to bet Nancy posted them herself. Pride of "owership", I guess. Just follow the link on the address.

The more of these stories I read, the more I think there was some sort of 'insider' party that I wasn't invited to: join the fun, spend hundreds of thousands of dollars, and don't worry about having to pay it back... ever!

Tyrone said...

Uh oh. Looks like damage control at work. The photos were removed from Zillow.

The Ace said...

Look at the knockers on that MILF.

I think Nancy used part of the money from one of the many HELOC loans money that she took out was to get herself a boob job.

I wouldn't mind repossessing those myself.

SingleGuyMoney said...

Yep, certainly deserves to be in the hall of shame.

42 said...

well good for USAA. that's my bank.

but I wish they'd quit offering me a $125,000 HELOC every time I log in to my accounts, because I haven't owned property since Aug 2005.

Nancy said...
This comment has been removed by the author.
Tyrone said...

Thanks for the insight, Nancy--into your boobs, that is; don't believe the other part.

You can do it!

The Ace said...

Nancy,

We certainly agree on one thing darling, yes there are spectacular I'm looking forward to the opportunity to possess opps I mean repossess the pair of them.

Rack um up babe!

One more thing Nancy, now that we've established that your boobs are indeed real I'm sure that the chaps on HP would be very interested to know if you are in fact a natural blonde especialy downstairs?

Dana Seilhan said...

It's one thing to make fun of people for doing tremendously stupid things when they had the capacity to make better decisions. It's another to descend into sexual harassment, or as close as you can get to it without actually sharing the woman's employer. If we're going to start verbally groping women's boobies when we're supposed to be talking about the housing bubble then break out the ruler and let's see what you look like too, 'cause I'm always up for some pointing and laughing.

It reminds me of the time I was in a public place with a TV turned on to some American Idol-type show with a plus-sized woman singing onstage, and this guy sitting closer to the set than I was yelled, "Lose some weight!" Then he stood up and turned around and I could swear the sonofabitch was carrying twins. Men are sooo quick to get personal about women's looks and what you'd love to do about them but I notice the biggest talkers do the least measuring up themselves. I mean, the guy wasn't even cute. Ain't that something?

The Ace said...

This guy is either a poof (faggot) that wants to see pics of big dicks on HP or he is Nancy's hubby coming to the rescue as a Knight in Black Armour.

I suspect that he's a bit of both, jealous of the fact that the Lads on HP have much bigger dicks than he does and the fact that he has had his Hummer repossessed by the Bank.

He is also annoyed that the Lads on HP might be called upon by the Bank to assist in the repossession of his wife's Nancy's tit's.

What say you chaps: Poof or Heloc addict?

The Ace

suckit:-D said...

you guys are right you dont have the real story thats y im here to tell you about how much of a bitch she is and why this really happened to her. see unfortunaly i happen to know her and the reason why this happened is because the women has never been sober EVER and either has her husband. they drink all the time. Ohh and that hole im useing the money to send my kids to school is shit because her one child doesnt even talk it GROWLES at people. ohh and also she stalks people and is supper rude and butts into people conversations. No one likes her or her family.

AmandaM said...

Whoever wrote the previous comment to mine should be absolutly purely ashamed of themselves. They are clearly young and do not know what they are talking about. i am actually a neighbor to the Corazzi's and a little while ago decided not to get involved with this whole blog thing but the last comment blew my mind. the corazzi family is one of the most amazing genuine families i have ever met, they dont deserve any of this bull you guys are putting them through. Nancy is one of the coolest moms out there, shes one of the nicest people to talk to; along with her husband. Shes one of those women who will do anything for anybody and would bend bridges to do it. Shes done so much for our community and is one of the people who actually hold it together. im actually embarrassed that someone who knows her personally would write that about her.. everyone who's writting these horrible comments need to mind there own buisness. This whole thing has gone too far and now its pretty much just conversation battle rather then trying to figure out the actual dilema. i wish that this family would not take any of those things personally and know that there are some people out there that have nothing to do w/ their lives, but then there are some that actually care.

andek said...

Why don't we all just take a step back and look at why Nancy and her family did the article in the first place. I'm proud of them for having the guts to come forward and tell their story so that the rest of the people around Maryland who are going through the same thing can know that they are not alone! Don't you people see what is happening around you. This crisis is affecting everyone from the poorest to the richest. It doesn't discriminate and has nothing to do with a lack of planning for it. To those of you who made the heinous comments about this family... I hope you don't someday find yourself in need of compassion, because when you are so rude and dishonorable, no compassion will come to you. This family is nothing but honorable, respectable, and hardworking. They have worked very hard on their home and bettering their neighborhood. I know this, because I am one of their neighbors. You need anything, and there they are, willing to lend a hand. I'm personally proud of them, and think they should be proud of themselves. Now, let's all do everyone a favor, and MOVE ON. You have energy and time to blog, you should also have energy to help your fellow man out.