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OC Real Housewife Home in ‘Loss Mitigation’

According to the Orange County Register, Jeana Keough the former star of “The Real Housewives of Orange County” has “saved” her home from a foreclosure auction.

In a long rambling letter from Keough to OC Register writer Mark Eades, she says:

“Mark, thank you for making me aware of a NOD (notice of default) filed on my house, I have successfully completed a loan modification with Zachary Scoggins and Art Moore! Thanks guys! Washington Mutual/Chase are committed to keeping families in there homes.”

But a telephone call today to the trustee — California Reconveyance Company, the debt collector hired by Chase — confirmed that the foreclosure file for Keough’s Coto de Caza home was in “loss mitigation hold,” indicating she’s still in the process of working on a loan modification on her $1,300,000 mortgage.

In her letter to the Register, Keough went on to say:

“I probably will sell the house — 8,500 feet with a guest house on a 1.2 acre lot with 6 garages is more than Colton and I need. My $6.5 million house is now worth $5 million, but the next house I buy will be cheaper, too.”

Posted: Mon, June 15 2009 12:59 PM by Octavion

Comments

Loss Mitigation Loan said:

The house looks really good. It is nice to hear that she saved the house so intelligently.

# November 17, 2010 11:16 PM

Tyler said:

Yes, but it's a secret .I'll share with you! First, when you say  stop  do you unntrseadd you are halting the process only and not the lenders rights under sate code. Anything can be negotiate up till a notice of sale (i.e. California). Then all bets are more or less off. If you want to negotiate a settlement then talk to the lender before a sale date is set.  Attorneys can also seek a temporary injunction for a valid claim against your lender. NOW THE SECRET: But if you think you have a wrongful foreclosure action then DON'T stop the process   let it continue. After the home goes back to the lender it's only then you have grounds for a wrongful claim. Stay in the home afterwards by responding to the unlawful detainer the lender will file to have you removed. Make your claim strong as to decepetive and predatory isntances a good auditor can determine for you. Some folks have gotten back their home at 50 cents on the current loan against their house under a negotiated settlement.

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