Support Network Helps Kidney Cancer Survivor Angelo Kontarinis Avoid Foreclosure
According to Fox News, the couple's bank refused to help when they tried to restructure their mortgage.
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January 19, 2010
A professor at the New Hampshire Institute of Art, Angelo Kontarinis was diagnosed with kidney cancer in 2007, which led to mounting bills and problems with mortgage payments that left him and his wife facing the possibility of a foreclosure.
According to Fox News, the couple's bank refused to help when they tried to restructure their mortgage. Fortunately, Kontarinis had a support network provided through Kidney-Onc - a discussion list for relatives, researchers and physicians of kidney cancer patients - and dozens of individuals moved by his story spread the word about his plight, even contacting local politicians, including Democratic Senator Jeanne Shaheen.
Under their combined pressure, the bank restructured the Kontarinis' mortgage and lowered their interest payments.
The 40-year-old father of three believes his suffering happened for a reason. "There are people out there who don't have a thousand other patients supporting them, and in the end, maybe shame is a good thing," he told the news provider, alluding to the negative publicity that forced his bank to become cooperative.
According to the Federal Deposit Insurance Company, which cites figures from the Mortgage Bankers Association, some 250,000 American families enter into foreclosure every quarter.
Recovery from foreclosure is time-consuming, but experts say affected individuals may be able to become homeowners again if they straighten their financial situation, which includes paying new bills on time.
In the longer run, they recommend monitoring one's credit report on a regular basis to avoid identity theft that can make homeownership more difficult and to live within one's means so that monthly spending does not exceed income.
Those facing foreclosure may access valuable information through the Federal Reserve Mortgage Foreclosure Resources webpage or via NeighboorhoodWorks.
A professor at the New Hampshire Institute of Art, Angelo Kontarinis was diagnosed with kidney cancer in 2007, which led to mounting bills and problems with mortgage payments that left him and his wife facing the possibility of a foreclosure.
According to Fox News, the couple's bank refused to help when they tried to restructure their mortgage. Fortunately, Kontarinis had a support network provided through Kidney-Onc - a discussion list for relatives, researchers and physicians of kidney cancer patients - and dozens of individuals moved by his story spread the word about his plight, even contacting local politicians, including Democratic Senator Jeanne Shaheen.
Under their combined pressure, the bank restructured the Kontarinis' mortgage and lowered their interest payments.
The 40-year-old father of three believes his suffering happened for a reason. "There are people out there who don't have a thousand other patients supporting them, and in the end, maybe shame is a good thing," he told the news provider, alluding to the negative publicity that forced his bank to become cooperative.
According to the Federal Deposit Insurance Company, which cites figures from the Mortgage Bankers Association, some 250,000 American families enter into foreclosure every quarter.
Recovery from foreclosure is time-consuming, but experts say affected individuals may be able to become homeowners again if they straighten their financial situation, which includes paying new bills on time.
In the longer run, they recommend monitoring one's credit report on a regular basis to avoid identity theft that can make homeownership more difficult and to live within one's means so that monthly spending does not exceed income.
Those facing foreclosure may access valuable information through the Federal Reserve Mortgage Foreclosure Resources webpage or via NeighboorhoodWorks.
