The Catskill Chronicle

By Bob Dorn

Written in March 2012

I lost my condo to foreclosure in December 2009. I’m still trying to put together a lot of the details, and figuring out where and why everything went wrong.

One thing is clear, I still don’t understand the mortgage paperwork, let alone, the foreclosure papers. I’m just realizing that I was supposed to respond to the Court (Middletown, NY, Orange county) at a certain date, and because I wasn’t even clear on this, it may have led prematurely to my foreclosure. At the time, several events and things came together to form a "perfect storm."

In retrospect, It would have been helpful to know what I know now, and to have had someone to help me through this period.

I bought a reasonably sized one-bedroom condo in Middletown, NY in October 2006, after separating from my ex-partner, the year before.

We still owned and were trying to sell a small house (about 700 sq. ft.), in Pine Bush NY. I was still working full time as a Librarian at Albert Wisner Public Library, in Warwick, NY at the time. I rented an apt. in Warwick, finding it difficult to stay in the same house with my ex.

Leading up to this, I was suffering from depression, over the situation with my ex. I was in counseling and had just been diagnosed with PTSD from my 9/11 experience when I had worked in NYC as an academic librarian, (but that’s another story).

It’s clear now that I didn’t understand the mortgage situation I was offered. I didn’t think logically through the process, the costs involved, what might happen should the mortgage change, mortgage holding banks switching on me, without notice.

I know now that I shouldn’t have been offered the mortgage, (financing 100%, getting into two mortgages, a "bridge loan" included). I know I should have waited for the sale of the Pine bush house, and see exactly what I was getting out of it.

I was also unaware that in two years I would be forced to stop work, and be diagnosed with a debilitating condition called Meniere’s Disease.

It is now obvious to me that I was the target of some loan "predator." I had declared bankruptcy in 2005, and was actually surprised to have a mortgage offered to me since I had bad credit, and was still part owner of a house that was still costing me.

But I thought the Pine Bush house would be sold soon, and that I’d have a decent amount to put down.

I got the mortgage, didn’t understand any of it, just sat there in a room full of bankers and lawyers (mine and theirs) and rejoiced in telling myself, I deserved this after all I had been through. So, in October 2006 I moved into one of the cheaper condo estates in Middletown.

And my second big mistake? I did not realize that I wasn’t really wasn’t making enough to keep up with the mortgage, the common costs of maintenance, upkeep, etc.

Meanwhile, the Pine Bush home was costing more and more for repairs, busted water pipes, the new boiler and more.

As I became extremely depressed, the work situation was getting worse and my work was suffering. At the same time, I was beginning to have symptoms of the Meniere’s Disease.

I tried to reduce or refinance my mortgage costs through Chase, who eventually "owned" my mortgage.

Finally, after Chase Mortgage said that a workout was not possible due to my medical leave at work, I gave up on trying to keep the property.

I left the condo in December of 2009, the date of the Foreclosure as far as I could determine.

Recently, I signed papers in a class-action lawsuit in NY State against predator mortgage agencies and banks. We’ll see what happens.

Now I am working with MoveOn Sullivan, other progressive groups, and Occupy Hudson Valley groups. I am trying to help others who are in foreclosure to keep their homes.