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Thursday, September 27, 2007

Home loan nightmares grow in Idaho



Home loan nightmares grow in Idaho.
Pam Hannam was hoping for a fresh start when she left San Diego for Idaho after her hair salon went bankrupt almost three years ago.Since arriving in October 2005, Hannam has purchased a duplex for $127,000, then tried to sell it, only to discover she owed more than the property was worth. She finally abandoned it to two different lenders, who foreclosed on the duplex in the 1300 block of Ash Street in Caldwell.Her troubles didn"t stop there. She also had to close a hair salon she opened in Nampa and has moved eight times, including a couple of stints with relatives in Caldwell. For a time she lived out of her Ford F250 truck.'I moved here with so many hopes and aspirations. And the first day people were flipping me off because of my California license plate,' she said. 'How did things go so wrong?'Hannam"s is just one story among many unfolding in Idaho as homeowners fight to keep their homes out of foreclosure.