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Borrower Nightmares: Disabled home owner alleges broker, bank offered her mortgage she could not manage

Borrower Nightmares: Disabled home owner alleges broker, bank offered her mortgage she could not manage

Margaret Mosunic in the front of her Queens home. Ben Hallman

Introduction

Margaret Mosunic is 63 and a devout Christian, but she has a specific, violent plan of action if she ever encounters her building contractor again.

“I would like to choke their small Irish neck, ” she stated in a recently available interview in her house in excess of 40 years in Queens, ny.

Are you aware that large financial company whom suggested the contractor? “He is a devil into the disguise of a person, ” she said.

On Jan. 9, 2008, Thomas Delaney, a brokerage in the home Consultants, Inc., drove Mosunic up to a legislation workplace to shut exactly what she thought had been a $40,000 financial loan, relating to a lawsuit filed by Mosunic in Queens County court. She planned to make use of the amount of money to pay right right back fees and work out repairs up to a downstairs apartment that is rental she stated.

But which wasn’t the mortgage that the broker had expected the financial institution, Emigrant Mortgage Co. Of the latest York to accept, Mosunic’s lawsuit alleges.

Methodology for property foreclosure cases

To get understanding of other Emigrant Bank foreclosure cases, iWatch News took a straightforward random test of 54 associated with the 401 active instances placed in nyc in mid-August. Information on all the 54 situations had been entered in to a spreadsheet for descriptive analysis. A confidence was used by us degree of 95 per cent having a margin of mistake of 6 portion points in either way, standard in social technology research.

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