WEST HOLLYWOOD (CBSLA.com) — A 93-year-old woman is facing foreclosure after taking a second mortgage out on her West Hollywood home.
Hilda Vinalas took out a loan after facing financial troubles after her husband, Henry, died.
The couple purchased the home 60 years ago for $30,000 and paid it off in full.
Vinalas told KCAL9’s Amy Johnson she thought the loan, purchased from Lehman Brothers, was a fixed loan for $140,000.
“They made me sign many papers, and I could’ve signed my death sentence because I didn’t know what I was signing,” Vinalas said.
The loan turned out to be an adjustable rate mortgage for $750,000.
“It’s a lot of money. I can’t remember who did it, who took it, nothing,” Vinalas said.
Homeowner activist Suzanne O’Keeffe is helping Vinalas.
“The money went missing. We’re doing an investigating about where it went,” O’Keeffe said. “It was a bad loan. It was an adjustable rate loan. She shouldn’t have gotten it to begin with on her income, and it was the wrong thing to do for an elderly woman.”
The loan has been sold to three different mortgage companies.
KCAL9 reached out to Nationstar, the current loan holder, to ask about the eviction letter they sent to Vinalas, but no one has returned the call.
“They would have to take me out by forcing me. I won’t leave by myself, no,” Vinalas said.
But she’s prepared to get kicked out, just in case.
“I will be happy on the street. I already went to practice to be homeless, but I did this for only three days because it got so cool at night. I couldn’t stand more.”