GOOD LOOK AT HIM. IF YOU
RECOGNIZE HIM,
MAKE SURE
THAT YOU GIVE DURHAM
POLICE A PHONE CALL.
A LOCAL FAMILY COULD
LOSE THEIR HOME RIGHT AROUND
THE HOLIDAYS.
IT IS NOT BECAUSE THEY
WERE SCAMS, IT IS BECAUSE
OF THE FINE PRINT.
RICHARD ESSEX
JOINS US LIVE FROM
DURHAM COUNTY WITH A CAUTIONARY
TALE.
Reporter: THE LADY THAT
LIVES IN THIS HOUSE TOOK
OUT A CONSOLIDATION LOAN ABOUT
15 YEARS AGO.
NOW SHE IS TWO WEEKS
AWAY FROM BEING FORECLOSED AND
LOSING ALMOST EVERYTHING SHE
HAS.
THE HOUSE IS TIDY, CLEAN
AND WELL-MAINTAINED AND ON THE
VERGE OF BEING FORECLOSED.
AS OF
NEXT FRIDAY
, IF I DON'T COME
UP WITH $42,000 I WILL HAVE
NOWHERE TO LIVE.
NOWHERE TO LIVE, AND THAT
IS NOT FAIR.
I HAVE NEVER BEEN LATE.
I'VE
NEVER MISSED A PAYMENT.
I PAID IT ON TIME.
Reporter: TO GET A CLEAR
PICTURE OF HOW TAYLOR GOT
TO THIS POINT.
21 YEARS AGO,
HER HUSBAND DIED.
THAT STARTED A SERIES OF
WHAT MIGHT BE CONSIDERED UNWISE
FINANCIAL DECISIONS.
WITHIN A FEW YEARS
SHE ROCKED UP
$40,000 IN DEBT.
HER KITCHEN TABLE IS COVERED
WITH PAPER TRAILS OF HER
DECISIONS.
I AM BEING DONE
SO UNFAIR.
HERE I AM IN MY 70s.
I DON'T WANT TO BE
ON THE STREET CORNER.
I HAVE NOWHERE TO GO.
I HAVE NO FAMILY.
MY PARENTS ARE DEAD.
Reporter: IN NOVEMBER OF
2003, TAYLOR TOOK OUT A
HOME EQUITY LOAN TO PAY
OFF THE $40,000.
SINCE DAY ONE,
SHE HAS ONLY MADE INTEREST
PAYMENTS ON THAT LOAN.
THE BANK
CALLED HER WITH BAD NEWS,
JUST A FEW WEEKS AGO.
YOU KNOW YOUR LOAN
IS GETTING READY TO MATURE
AT OCTOBER 29?
I SAID,
WHAT?
SHE SAID YOU'RE
GOING TO HAVE TO COME
UP WITH $42,000.
I SAID DO
WHAT?
I DON'T HAVE IT.
I SAID WHAT IS GOING ON?
Reporter: TAYLOR SAYS
NO ONE EXPLAINED THE DETAILS
OF THE LOAN TO HER
NOW THE BANK IS DEMANDING
SHE PAY THE PRINCIPAL IN
TWO WEEKS.
SHE IS ATTEMPTING TO
REFINANCE AND AN INSPECTOR
LOOKED
OVER THE HOUSE , WHICH IS
MORE MONEY OUT OF HER POCKET.
HAVE GOT A GUY
THAT SUPPOSED TO COME HERE
TODAY TO DO THE DECK
ON THE PORCH.
THEY JUST KEEP
COSTING ME MONEY.
THEY HAVE DRAINED MY BANK
ACCOUNT.
I AM NOT LYING TO YOU.
I HAD A LITTLE BIT
OF SAVINGS, THEY HAVE DRAINED
ME DRY.
DRAINED ME DRY.
NOW
, THAT MEANS I'M GOING
TO HAVE TO LIVE
OFF OF WHAT LITTLE
SOCIAL SECURITY I GET THAT
