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

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

Margaret Mosunic right in front of her Queens house. 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 meeting inside her home of greater than 40 years in Queens, ny.

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

On Jan. 9, 2008, Thomas Delaney, an agent in the home Consultants, Inc., drove Mosunic up to a legislation workplace to shut exactly what she thought had been a $40,000 mortgage, based on a lawsuit filed by Mosunic in Queens County court. She planned to utilize the amount of money to cover right back fees while making repairs up to a downstairs leasing apartment, 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 achieve understanding of other Emigrant Bank foreclosure cases, iWatch Information took an easy random test of 54 for the 401 active instances placed in ny in mid-August. Information on all the 54 instances were entered into a spreadsheet for descriptive analysis. We utilized a self-confidence amount of 95 per cent with a margin of mistake of 6 percentage points either in way, standard in social technology research. Which means for every single sample drawn, 19 times away from 20 the findings will be within 6 portion points above or underneath the percentages discovered its test.

An hour or so later on, Mosunic claims, she endured for a street corner with a $20 bill that Delaney had pushed into her hand for cab fare, upset and confused.