Got word today that some Friends of Pegasus are in a bind:
Our friend Tuala Williams at The Dallas Examiner sent us a young woman who is using the Interwebs to try to save her grandmother's Fort Worth home.
Seems the woman's sister owned the home and left it to her upon her death. There was a reverse mortgage on the home, and although the family did what they thought they should to see the loan continued in Granny's name, Wells Fargo says no dice and are about to foreclose. (There's some implication that the family may have gotten bad information from Wells Fargo.)
You can see CBS11's rendition of this tale below:
The family has set up a website, SaveGrannysHouse.com, looking for donations to pay off the mortgage and have so far raised about $1k of the $62k necessary. You can donate via PayPal or at Omni Bank in Fort Worth.
With five days until foreclosure, it's going to take a miracle to come up with that kind of money. I'm more hopeful that someone in the mortgage industry who can help, or perhaps someone from Wells Fargo that might see some cheap good PR to be made out of this situation, might see this and step in. In either case, I wish the family the best in their efforts.
Comments
Scott Doyle Verified
I'm wondering if they've gotten in touch with the National Aging In Place Council?
They offer collaboration on reverse mortgages; surely they have a decent understanding of options and avenues for people on the back-end of one. Doubtful that Wells Fargo is going to just let granny off the hook even if they get an extension - and I severely doubt they're going to allow loved ones to keep passing the buck (literally) down the line. That would defeat the purpose, anyways.
2 months, 1 week ago ( Link to this comment | Suggest removal )
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