By: Sharon Aron Baron
Amid recent reports that the Coral Springs Mayor’s home is facing foreclosure, Terry, wife of Vince Boccard is speaking out.
BrowardBeat first reported that the Mayor’s home was facing foreclosure, and before the news went mainstream, I asked Terry if she wanted to tell her side.
Terry admitted it was embarrassing and wasn’t sure weather she wanted to say anything about it. She said that they have been working on the foreclosure issue for awhile, and said that even though her husband is the Mayor, they are no different than any other struggling family in South Florida.
“2008 was a rough year for everyone, especially in construction,” said Terry. “We’re trying to climb out of the hole financially.”
It was later that they applied for a modified home loan. Homeowners that are facing a major financial hardship that could lead to a foreclosure can work with their lender to get a loan modification which will change the terms of the mortgage loan so the borrower can afford the payments. However, during this time, all of their mortgage payments were being sent back to them, because, she says, the loan department doesn’t talk to the modification department. Terry says she’s been been in communication with both her attorney and the banks every week.
The home, purchased in 1998 for $220,000, is 2,551 square feet.
In the meantime, Terry has been busy raising their daughter Sophia and working part-time for a catering company while looking for full-time work.
“We have money in escrow and we’re hoping that in the next two to three weeks, when it gets to the underwriters, we’ll be on track.”
Terry says they are not in any danger of losing their home, and are doing everything possible to keep it. The construction business is doing well, and business is picking up again.
“We’re climbing out of the hole financially.”