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Money for the Bankers, none for the homeowners?
Posted by westtexas8
12/02/08 03:36:37 PST
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Just another little story from  Texas; he must be one of Phil Gramm's predatory borrowers. Ah, I know, lets ask that female paragon of knowledge and spirit- Sarah Palin... (sorry, this one really gets me going)

Posted on Tue, Dec. 02, 2008
Hurst man with cancer still fighting today's planned foreclosure of home

    A Hurst man with cancer has filed court papers trying to stop today’s planned foreclosure of his home.

    The home of Frank Hartman, whose plight was featured recently in the Star-Telegram, is slated for the foreclosure auction this afternoon. The 67-year-old has been unable to make the payments on an adjustable-rate home-equity loan he took out with Ameriquest Mortgage in 2004. The debt is thousands of dollars more than the appraised value of the home.

    Hartman’s attorneys, Tom Engle of Bedford and Michael Brinkley of Fort Worth, filed a motion last week asking the judge of the 141st District Court to stop the foreclosure. They are also asking for a new trial. The court clerk said late Monday afternoon that no response had been filed.

    According to the court documents, the reasons for seeking to stop the foreclosure include that Hartman now has an attorney and that Ameriquest has already removed property from the house.

    The court filings also say that Hartman’s home-equity loan is unconstitutional under Texas law because it is for more than 80 percent of the home’s value. The loan was for $116,000, while the Tarrant Appraisal District values the home at $78,500. Hartman’s attorneys say that the loan fees were also unlawfully high.

    Engle said that Hartman has been "damaged severely."

    "I think Mr. Hartman’s going to be OK eventually," he said.

    ANDREA JARES, 817 548 5522

     

     

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