Lenders reneged on promises

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Owner of Pepperell mold house: Lenders reneged on promises

By ANDREW RAVENS, Sun Staff

PEPPERELL The nightmare continues.

Home lenders Fannie Mae and Washington Mutual have apparently reneged on

prior assurances that the family would not be responsible for a

$227,000 loan on their 20A ee Road home.

was told about a month and a half ago that she could expect a

" charge-off " on her mortgage because her house is badly infested with toxic

mold.

Now, that has all changed, she said Friday.

" It's Friday the 13th, and I just got a letter saying Fannie Mae changed

their mind and will foreclose on the property, " said. " They will

put the property up for auction on Sept. 8 at 10 a.m. "

In late June, it was widely reported in newspapers and on television that

the es had finally caught a break: Investors were going to relieve them

of their loan, and they could expect to get the good news in writing.

" I am out of my mind, " she said. " I can't believe they are going to try and

sell this property. "

In December 2003, the family moved to an apartment a few blocks away because

developed a debilitating case of asthma she attributes to the

mold.

Her husband, Rick, and 6-year-old son, Cameron, did not suffer ill effects.

said Fannie Mae and Washington Mutual, of ville, Fla.,

previously tried to auction off the home to no avail.

" I called the media (on the day of the auction), and it was a circus. They

couldn't sell it, " said. " Look what I am going to do this time. "

Phone calls to Washington Mutual attorney Stephan Jongerling, whom

said told her the charge-off would happen, were not returned.

The es' attorney, April Babbitt, who helped secure the now defunct

charge-off, was also unavailable for comment.

Because of interest accrued over time, the es now owe $247,000.

That's an amount said she cannot afford.

" What are they going to do? " she said. " We have nothing. My husband doesn't

have $20 to get a prescription filled. "

Although the money is an added stress, said she is primarily concerned

someone will buy the property and suffer the same illness that has befallen

her.

" I am sick, I am sick, " she said. " We haven't owned this property for two

years, and now they are going to do it to someone else. "

The es cannot file for bankruptcy because they filed a civil lawsuit

against real-estate agents and a home inspector for allegedly failing to

inform them of pre-existing mold.

She added that it will be difficult for the home's new owners to purchase

insurance on the property.

" We have a Clue Report Comprehensive Loss Underwriting Exchange, " she said.

" It goes through insurance companies and when you plug in our, address it

says the property has 'unresolved issues.' "

plans to have her home inspected for mold again and present the

updated report before the home is auctioned off.

Ravens' e-mail address is aravens@... .

Larkin, Executive Director

Mold Relief, Inc.

www.moldrelief.org

405-590-6372