The Foreclosure Edition
Lisa Wu-Hartwell
Lisa Wu Hartwell of the Real Housewives of Atlanta stated she and her family were not "booted" from their foreclosed $3,000,000 mansion, as some reported. Since TMZ didn't use said wording when they reported the story and sites like this one did, I'll assume that was lobbed in this direction.
I wasn't trying to hurt her feelings, but I was stating it in legal terms, as when a home is repossessed via foreclosure and auctioned by the bank, that second step means the family has been "booted" from the property. It is a legal formality.
Otherwise, after vacating the premises, weeks or months down the road, the family could decide to move back in again.
The legal language of foreclosures with regard to the property actually being auctioned, mandates that it is clearly stipulated, the borrower in default has been put out, to facilitate the sale of said house to satisfy the debt. Therefore, anyone saying otherwise is pure semantics.
However, I will state, it is great the Hartwells were able to move into another property they "own" after "downsizing" as many Americans did not get that opportunity in the current, ongoing mortgage crisis.
The only property repossessions this Column would toast is that of ponzi schemers and other thieves, defrauding innocent victims.
Side Bar: Atlanta female stars gets testy when you write about their finances.
Lisa Wu Hartwell Rebuffs Reports Her Family Was Booted From Their Home
POSTED: AUGUST 11, 2009 - The economy is affecting everyone, even some of our favorite reality starlets. Recently, reports surfaced that "The Real Housewives of Atlanta" star Lisa Wu Hartwell and her footballer hubby Ed Hartwell were allegedly booted from their multimillion dollar Duluth, Georgia, mansion, after the bank allegedly foreclosed on the crib and sold it.
However, Lisa Wu Hartwell says that's the furthest thing from the truth. "People read and believe what they want," Hartwell, 38, told ESSENCE.com exclusively after landing in Atlanta from Baltimore where she had a speaking engagement. "Ed and I are doing fine and our children are fine."
Still, the petite beauty wants to make it clear that the Hartwells are no different from anyone else who had to make smart, cost-efficient lifestyle change like many Americans who have been affected by the recession. "We are not ignorant about the state of the economy, but we chose to move, we were not evicted. We've been settled in our home for two months now and we've owned it for five years, as well as other properties. We planned to build on that 10 acres of land and sell the property, but decided against it when the market went bad and I'm glad we didn't. It's just quite silly that there are reports that we were put out as if it weren't our decision to relocate. Our decision to downsize is what I call being [financially] responsible."
"RHOA" costars Nene Leakes and Sheree Whitfield have also moved after dealing with foreclosed properties.—KNB
