Times are hard for everyone, even wealthy busniesswomen-socialites. Lisa Wu-Hartwell (she’s the one on the far right, next to Kim Zolciak), one of the stars of ‘Real Housewives of Atlanta’ and her husband, former Oakland Raiders linebacker Edgerton Hartwell, lost their Atlanta mansion last week when the bank foreclosed on it.
Hartwell’s rep tells us the couple was in talks with the lender to
restructure the loan because the home had lost value — but that
failed. They originally bought the place for $2.9 mil back in 2007 –
but the bank only got $1.9 mil when they resold it this month.The rep says "Ed and Lisa are fine. They have settled in their [new] home, that sits on 10 acres and they OWN it!"
Luckily it sounds like Lisa and Ed were able to find a new home. I’m glad they were able to work everything out: Lisa seems genuinely nice and Ed is hilarious!
Note: thumbnails are not hi-res.
Main photo by Wenn.com
What a lot of people are doing now since lenders are not reworking loans, is that they look for another home they like, purchase it, and then dump the old one (let it foreclose). The reason behind this is that if they let the first house which has depreciated in value foreclose first, their credit is shot, and they are unable to purchase a second house. Not the most ethical thing to do since it only worsens the depressed housing market more, but many many people are doing it.
Sounds like the banks are cutting off their noses to spite their face. Sounds very unethical and society will pay the price. How can they get a loan on a new home or are their assets hidden and they pay cash? Banks need to freeze assets to stop this practice. Leaving banks with devalued homes will surely intensify the banking crisis.
They apparently did pay with cash. Getting a home short sale’d’ (selling for less than you owe) only loses you 20-25 points on your credit. The Banks are the ones that loaned out the money to overpriced homes. Offering exotic loans, and 0 down was created by greedy lenders and brokers. Unfortunately it’s the buyers who get screwed……but if you can’t pay, don’t buy.
well at least they have another nice house to move into. not like some ppl who have lost their homes and have to move into small places or even stay homeless.
I agree. Buy what you can afford but the banks also can’t afford to lose $1 mil per house either. That will effect everyone who isn’t screwing the banks as they won’t be able to make any loans. I thought their house was foreclosed. Doesn’t that do more damage to credit?
i dont watch it & really dont care. she’s still living better than all of us. At least me anyways
So basically anyone who takes out a mortgage instead of paying cash for a home is leaving beyond their means.
Make that “living” beyond their means. My mistake.
No, those that can’t pay back the mortgage are living beyond their means. Those that let their houses go into foreclosure are living beyond their means unless there is a catastrophic problem i.e., illness, injury, death, job loss, etc. As far as I know those things didn’t happen to Lisa.
Leave those ladies along. So what if there house foreclosed who’s problem is it not any of you haters. I love them and my hats off to all of them. Im asking God to help Kim because she needs to find herself and stop all of the trash talking about the other women. So go ladies of ATL
WELL IT DONT MATTER LIKE THE CHICA SAID THEY ARE STILL LIVING BETTER THAN EACH AND EVERYONE THAT LEFT A MESSAGE. SO LEAVE LISA ALONE. I LOVE HER! NOW HOW U DOIN???(WENDY WILLIAMS VOICE)!
no that Deshawn’s gone, are any of these women really rich?
Do. Not. Care.
Nasty. Trashy. B1tches.
exactly my thoughts
Can’t stand this woman. She is so full of herself.
Lisa Wu Hartwell is now an official Real Housewife of Atlanta, her house has been foreclosed lol.
Ha! All of these drag queens are trash.
I don’t watch the show.
I don’t watch the show either, if they could afford to buy a new home and OWN It!! like the rep states; why loose the original home to begin with. I don’t understand ghetto fabulous I guess. ———
**When there’s no more room in hell, the dead will walk the earth**
Really…hmmmm…sounds fishy. So they all live beyond there means and front. They aren’t very impressive to me.
I don’t watch the show either. I agree with you Gisela if they could afford to buy another then why lose the one they were in. Go Yankees
bah-ha! not so rich now are they?
I don’t like her, I just can’t stand her, but for some reason I like the others more.