Real Estate

Florida Story: Foreclosure

Jenny Blume, a loss mitigation specialist in Cutler Bay, left for Peru with her two children to help build houses for those who could not afford homes. When she returned to South Florida in 2007, her own house had been foreclosed, due to an adjustable rate mortgage that soared from 4 percent to 10.5 percent interest that she could no longer afford as a single mother.

Shortly after, Blume’s father lost his job only weeks before mother needed heart surgery. The combination of unemployment and hefty medical bills caused her parents to fall behind on their own mortgage, at the same time that her father was diagnosed with lung cancer.

Determined not to lose another home, Blume used her background as a mortgage broker, coupled with self-taught information, to begin a career as a loss mitigation specialist and fight to save homes from foreclosure.

While Blume still does not have her own home, living in an uncle’s home which is also facing foreclosure, she fights to save the homes of others on a ‘pay what you can’ basis.

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