Wednesday, July 9, 2008

Jason and Teresa Olive

Is there something fishy about this story??

2008-07-09: Programs to prevent foreclosure don't guarantee success

Comment posted at the story:
Actually it's not hard to find the whole story, too bad the sentinal does not research the whole story. Their house was purchased in 12/02 for 210k with a 178K fixed mortage, refi 4/04 for 237K fixed, than refi 8/05 for 274K ARm to put in a 42K pool.
Comment posted by Teresa Olive (possibly):
Many of you are right, when we purchased our home, we could easily afford it. We took equity out, but then again, so did millions of others. No one, not the banks, the fed, even you smug types who are so quick to judge, could foresee our housing mess. If they could, If I could have, I would have known to not use any equity. I know I am not the only person who did.... live and learn. Of course we tried to adjust, we gave up expensive car payments, sold equipment and bought cars with cash to avoid a payment, used our savings to pay our employees and workman's comp.... never received government aid of any kind.

11006 Lake Katherine Cir
Clermont, FL
Listing Website

For Sale: $329,000

Sale History
10/31/2003: $671,000 << (Not shown on Zillow, see Trulia)
12/03/2002: $210,000
10/30/1998: $162,500


tom12008 said...

this was interesting. I followed up. I checked the Lake County Florida tax assessor's records under the family name, and eventually came to the property in question. They only have the 2002 sale for $210,000.00, nothing susequent. I don't know where Trulia got their other figure. It sounds as if the double-HELOC story is the one to go with. Thanks again for the story,


Tyrone said...

Thanks. I suppose it could be a Trulia error. That aside, still yet another HELOC story.

w.r. said...

I must add that not only did they get in over their head but they also left many contractors who worked with them unpaid. My company being one of them.