A few weeks ago, rumors swirled that Jeana Keough might not return for the next season of The Real Housewives of Orange County. Maybe she might want to reconsider that fat paycheck from Bravo as she's now defaulted on her mortgage to Chase. Yes, the beleaguered and often trod-upon housewife now owes over $37,000 to the bank and nearly $4,000 to her homeowners association. The former Playboy bunny told the Orange County Register that there's actually a method to the madness. Jeana claims she's applying for a loan modification, which necessitates that she ceases payment on her current mortgage in order to qualify. Sounds like a mess. And I'm sure Vicki has been happily clucking away about steps Jeana could have taken to avoid this situation.
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It sounds to be as if she's been listening to Suze Orman advice.
For what it's worth, Jeanna's explanation *might* be true. Mortgage companies will not even talk to people who want a loan modification until they are at least 3 months behind on their mortgage, then, once they actually start negotiating the modification you still don't pay on the mortgage until the modification is in place. Thus, you can end up 6 months or more on your mortgage until the modification goes in place (and, of course, once the modification goes in place, the arrearage gets rolled into the modification). Stupid, I know, but true.
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That's a bit tough... yikes. I thought she was a successful real estate agent?
Hope things pick up for her...
Chris
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