Think foreclosure is for out-of-work schleppers who bought houses they couldn’t afford?
WFOR-Channel 4 anchorwoman Shannon Hori and her husband, commercial real estate agent Kendall Cogan, are fighting a bank’s attempt to take their Coral Gables homestead!
“We’re working diligently to get the bank to work with us,” said the couple’s lawyer, Bruce Jacobs. “But the bank has made no effort for a settlement.”
The battle is over a $738,400-mortgage that the couple signed in 2007 in order to buy a $923,000-home in the Granada section of the Gables.
Sound pretty reasonable for a TV personality and Cogan, who at the time ran nine restaurants on Florida’s west coast.
Two years later, however, the couple fell behind the mortgage payments as it became saddled with high medical bills to treat the heart illness of one of their twin newborns. And Cogan’s restaurants went belly up.
By 2009, mortgage bankers Aurora Loan Services started the foreclosure proceedings.
“We made our decision to buy the house at a time when my restaurants were doing well,” Cogan told Gossip Extra. “That changed. The baby was born with a congenital heart defect. Everything changed.”