by Diana Hinojosa
Like many couples, Luis and Lucila Ortegon had dreams of retiring comfortably and spending their golden years in the company of their loved ones. So they packed up their things and immigrated to the United States to be closer to their children. Upon arrival, they invested their entire life savings in a down payment toward a house. As Lucila sits in her rocking chair, she tells of the countless memories their home holds for them and of how happy they are to have a place that echoes with the laughter of their grandchildren.
“Now, we are content and at ease,” she says. But four years ago, this was hardly the case.
Luis and Lucila were about to become a statistic. Like millions of American families, they were on the brink of losing their home shortly after the recession struck. Luis, who graduated with a degree in mechanical engineering from the University of Nuevo Leon in Mexico, collected a modest pension.
“It is nowhere near the amount that workers collect in this country,” Luis explains. And with the economic downturn, Lucila saw a reduction in her work hours, further limiting the Ortegon’s monthly income.
Their predicament was compounded by the fact that a year after having purchased their home, their mortgage payment had more than doubled, going from $750 to $1,700 per month. The Ortegons decided it was time to seek help.
They were hopeful when they reached out to another non-profit advocacy group, but the group was unable to resolve their problem. They then began receiving letters from the lender that had taken over their loans. However, the Ortegons could not understand the loan servicer’s letters or communicate with them via telephone because of language barriers. This ordeal lasted three years.
“I spent many sleepless nights,” says Lucia, “wondering where we would go if we were to lose our home.”
Eventually, they ended up with a $1,349 monthly mortgage payment (at a 6.25% interest rate), which was over 60% of their gross income, and a debt amounting to $180,000 on a house worth about $80,000.
With so much of their monthly income committed to the mortgage, their situation remained dire, and their troubles continued. They once again fell behind. It was not until February of 2012 that the couple heard of The Resurrection Project’s foreclosure counseling program. So they showed up at TRP’s doorstep.
“TRP welcomed us with open arms despite the fact that we did not have an appointment,” says Luis, “and that is when the tide began to turn.”
By then, they were 18 payments delinquent and owed about $23,000 in arrears. TRP submitted a request for a modification to their lender. The Ortegons were approved for a trial plan in November, and finally approved for a full modification in February 2013. Their monthly payment was adjusted to $836 at a new fixed interest rate of 4.25% for the life of the loan. The Ortegons are now saving $513 every month.
Best of all, Luis and Lucila Ortegon are happy to be able to make repairs in a place that they can still call home.
“We are extremely grateful for the help we received from TRP,” says Luis. “Without them, we would not have been able to resolve our problem. The attention TRP gave us and their willingness to help really bridged a gap between us and the bank.”
The Resurrection Project is committed to helping people like the Ortegons keep their homes. Click here to learn more about our foreclosure prevention services.

Return to Nueva Vida March 2013 here!