According to legal docs obtained by TMZ ... Tisha and Duane took out a $625k home equity loan on a waterfront property in Lake Arrowhead, CA . At the time of the loan they still owed more than $730,000 on their mortgage to ANOTHER financial institution -- Aurora Bank.
Long story short -- Tisha and Duane allegedly defaulted on BOTH loans. Earlier this year, Aurora foreclosed on the home ... and according to the docs, the bank sold it at auction for $925k.
Aurora got paid first ... and sent the remaining $192k to CNS to partially satisfy the home equity loan, which had already ballooned to $633,119.52.
"Martin" star City National is now going after Tisha
and Duane for the balance ... plus interest.
But Tisha and Duane are PISSED -- a rep for the couple tells TMZ ... CNS is just trying to "bully" them for money they shouldn't have to pay.
The rep points out that CNS received a $400 million government subsidy in 2009 to help people like the Tisha and Duane through the mortgage crisis ... and says, "In this case City National refused to share the significant benefit that they received with the Martins."
The Martins are now threatening legal action against the bank -- claiming the bank discriminated against them.
When asked about the nature of the alleged discrimination, the rep would not elaborate.
But Tisha and Duane are PISSED -- a rep for the couple tells TMZ ... CNS is just trying to "bully" them for money they shouldn't have to pay.
The rep points out that CNS received a $400 million government subsidy in 2009 to help people like the Tisha and Duane through the mortgage crisis ... and says, "In this case City National refused to share the significant benefit that they received with the Martins."
The Martins are now threatening legal action against the bank -- claiming the bank discriminated against them.
When asked about the nature of the alleged discrimination, the rep would not elaborate.
I can't put my finger on it, but it is something about this couple that is just...just.... snap, ..just...
ReplyDeleteThey're not entitled to that assistance money because their mortgage is over 729,750.00 and they are way over than when you factor their 1st and 2nd mortgages. The mortgage modification assistance is not meant for people who are well off. Yes they are struggling but they have more income potential than people who are working menial jobs and working pay check to pay check. So no the subsidy was not to help people like Tisha and Duane. I'm not against them getting help but there are a lot of people in a worse off condition than they are that should be helped first. Plus their home is already foreclosed it's too late for them to be complaining about modifications.
ReplyDeletehe should hit up his dl lover will smith for a loan...no???
ReplyDeleteWhat happen to all that money they had I know there not broke
ReplyDelete