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4th Dist. Council Candidate Herlinda Chico Home Loan Drew Notice of Default In June 2014 A Little Over A Year After She Obtained A Mar 2013 CALFHA "Keep Your Home" Loan; Ms. Chico Provides Us With This Statement, Says She Worked With Her Mortgage Co. To Modify Her Loan And Is Now In Good Standing


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(Mar. 8, 2015, 7:30 a.m.) -- Publicly filed property records indicate that Herlinda Chico, a candidate running to become LB's next 4th district Councilmember, had a Notice of Default filed on her home in June 2014 in connection with the loan she used to purchase the property in December 2010 for $305,000. The records indicate that in purchasing the home, Ms. Chico put $7,732 dollars down with the balance of the purchase price from a loan secured by a trust deed through a major bank.

On June 17, 2014, a Notice of Default was filed indicating a delinquent amount of $11,164 on that purchase-money loan.

The Notice of Default came a little over a year after Ms. Chico obtained a separate "Keep Your Home" loan from CalFHA in the amount of $20,634, recorded on March 12, 2013.

LBREPORT.com emailed Ms. Chico's campaign inviting comment(s) by Ms. Chico for publication on what occurred and how the default was addressed. On March 7, 2015, we received the emailed statement below which we publish verbatim.

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[Statement by Ms. Chico] -- Two years ago, I ended a 13 year relationship with my fiancé. The loss of that income combined with unexpected medical expenses for both myself and my pets put me in a challenging financial situation. Sadly, my experience is not unique and many of my neighbors have, through a series of unfortunate circumstances, found themselves in similar situations.

I do not owe money to a third party. It was through disciplined budgeting and working with my mortgage company to modify my loan that I was able to turn my financial situation around. This personal issue has been resolved and I am in good standing with my mortgage company.


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