Nadya Sulleman known as Octomom will soon be evicted from the home she moved into shortly after giving birth to eight children. The four bedrooms, three bath house went up for auction Tuesday but failed to get a single bid, the home will now go back to the bank for foreclosure.
Sulleman with the help of her father purchased the home from Amer Haddadin for $115,000 down and a promise to pay a $450,000 promissory note. But Sulleman was unable to make monthly payments and now she and her 14-strong brood will soon face eviction.
The La Habra house was initially appraised at $525,000, the opening auction bid was $355, 643, but no one offered a bid.
Sulleman has been in the news a lot lately, especially since the foreclosure drama began to unfold. She is on public assistance, which generated some controversy, and recently tried to file for bankruptcy.
Her bankruptcy attempt failed because she didn’t turn in the necessary paperwork. In her filing, she listed $1 million in debts with only $50,000 in assets.
A personal bankruptcy, if recommended by a foreclosure attorney, can stop the bank from proceeding on a default notice.
Foreclosure is a reality for many people as they struggle to make ends meet through the economic downturn. These troubled homeowners have alternatives to foreclosure such as short sale, mortgage modification or court challenge. Which choice is right for each homeowner can be determined by a foreclosure lawyer.
Once a homeowner receives a foreclosure notice they should act quickly by consulting with a foreclosure attorney if they want to fight for their home.