Atlanta ‘Housewife’ Lisa Wu Hartwell Loses Home to Foreclosure

36 Comments so far

1. Housing prices falling in Asheville but not like Atlanta ‘zombies’ « Iwanna Blog on August 11, 2009 1:52 pm

   [...] There are reports that Reality TV star Lisa Wu Hartwell and husband, former Oakland Raiders linebacker Edgerton Hartwell, have lost their home to foreclosure in Atlanta. [...]

2. reesem on August 11, 2009 2:03 pm

   They foreclosed on a house and ran and bought another outright? If they have money to buy a house outright why couldn’t they make good on the mortgage that they took on? *Shakes head*

3. faychica on August 11, 2009 4:39 pm

   I don’t see the issue. According to the article, they paid $2.9 million for the house 2 years ago. The article also states that the house was losing value, which means they would’ve owed more on the house than what the house was worth anyway. They were going to lose anyway. Who wants to pay $3 million for a home that is not appreciating. And apparently they are not hurting if they went and purchased a new home w/cash. The way I see it, the bank lost out, but it serves them right for all of the money that they have stolen from consumers on the last decade. And who cares about a credit report when you’re rich!! (As long as you STAY rich for at least the next 7-10 years) HA!

4. abe vigoda on August 12, 2009 8:25 am

   Faychica, you are part of the reason this country is so screwed up. You see NO ISSUE with someone signing a contract and deciding to simply walk away because they are losing money? What about her neighbors that are the dumb ones continuing to pay their mortgages. Should they all walk away as well?

   WHOM do you think is absorbing the loss?

   I guess you are one of those waiting for Obama to give you a free house, car, insurance, and a flat screen TV.

5. FB on August 13, 2009 6:58 am

   abe vigoda you must know nothing about real estate. They cant hold on to something that is losing value the best thing is getting sometthing they can affrd to survive.

6. Sara Bonert on August 13, 2009 9:41 am

   With all those other business, revenue opportunities thru the show, and her husband being a professional sports player- I find it hard to believe they were having trouble paying their mortgage and forced into foreclosure. Seems like another case of abusing the system. I agree with abe vigoda and this is coming from a person whose properties have lost A LOT recently. No matter the declines I will continue to pay the debts that I knowingly signed up for, as long as my family is still having food on the table.

7. abe vigoda on August 13, 2009 9:44 am

   FB, what a moron.

   “According to their rep, the Hartwell’s have purchased another home on 10 acres that they own outright.”

   SURVIVE? They had money to purchase another home, but not money to keep the one they live in? Or is it simply because they are not making money on their home?

   That’s the problem with people like you FB.

   For the millionth time, a home is supposed to be a place to live in and raise kids, NOT as an investment. Go back 50 or 100 years and then tell me what the average rate of return is vs. inflation on real estate. It’s an ASSET. Assets appreciate AND depreciate. Where does it say housing is supposed to gain in value 20% a year?

   You’re just another real estate cheerleader. The kind that got us into this mess.

   Again chuchklead, WHO is going to pay for the LOSS on this house?

8. lucy on August 13, 2009 10:24 am

   I agree with most people here except FB. What a freaking moron you are!!!People like you are the reason why our economy is collapsing. Buying a house that you can’t afford, or in Lisa’s case could’ve been able to afford but decided to walk away and get another home? She is a huge rip-off! Lisa, you’re sopposed to be running a business? children’s clothing, jewelry, and real state company. Well, missy you won’t be getting my business ever! Remember, BAD KARMA will be with you someday!

9. Brian on August 13, 2009 11:15 am

   If you all stop and look at what they did was a smart business move.

   Rich People default and move assests every day.
   If you think you are smarter than there Lawyer,
   Accounting Firm and god knows what else your wrong.

   Besides you meatheads cant afford a $50,000 house cash.

   If you could you would not be blogging here.

10. ERD on August 13, 2009 3:26 pm

    Brian (meathead): “there” Lawyer?!? “your” wrong?!? Not to mention, inexplicably capitalizing Rich People, Lawyer and Accounting Firm!?! Do us all a favor, take some grammar classes with some of your free time.

11. abe vigoda on August 14, 2009 7:34 am

    To all of you real estate ‘experts’ on this board that think this was a ’smart’ move, I suggest you contact an attorney and inquire about recourse law for the State of Georgia.

    Georgia Foreclosure Law
    In Georgia, foreclosures are carried out on defaulting mortgages and deeds of trust. Both judicial and non-judicial processes are followed, depending on the lender’s selling rights outlined in the contract. The wait time is approximately 90 days.

    Judicial foreclosure
    A judicial foreclosure is followed when the contract does not include a Power of Sale. This clause would give the lender the right to sell the home if the borrower defaults on the loan. Without this clause, the lender has to bring the case to court and obtain a court order allowing them to foreclose. Once the foreclosure is declared, the property is put up for auction and sold to the highest bidder.

    ¬Non-judicial foreclosure
    In a non-judicial foreclosure, the process usually follows the terms specified in the Power of Sale clause. If the clause does not indicate a sale date, time, and other significant terms, the following steps are carried out:

    1) The lender sends a foreclosure notice by certified mail to the lender, along with a request for a return receipt. This must be done at least 15 days before the intended foreclosure sale. The wait time starts on the day the message is postmarked.

    2) The notice is then posted on a newspaper with general circulation in the same county where the foreclosure sale will be held. The ad must run for at least four weeks before the sale date.

    3) A public auction for the home is held at the county courthouse on the first Tuesday of the month, between 10am and 4pm.

    Right of redemption and deficiency claims

    In both judicial and non-judicial foreclosure, the homeowner has no right of redemption. This means he or she cannot regain possession of the property after the sale is held, even if they pay the sale price, interest and attorney’s fees. Lenders can also file a deficiency suit if the sale does not cover the entire balance of the loan.

    The lack of knowledge is astounding here.

12. BNB on August 14, 2009 10:10 pm

    First i have to say I love myself some Keith Sweat, he can sing any day for me.Lisa must be having money problems,they use the mansion,now all of a sudden the bought one out right, sure your right.For as her other kids,if you really loved your kids you should have stayed wirh their dad.Now i get it no wonder Ed wants her to have more kids because she has two by Keith Sweat, trust me i know a women that had 5 kids by her first husband, then her ex-husband wife #2 had 6 kids, she just had to have more kids than the first wife,then they got divorce.The grass always look greener on the other side, there is no guarantee thar Liza ahd Ed will be together forever either she has a bad attidue.Just too much into herself, I watch the news all the time, these women get two kids and then they divorce,why child support, Liza is greedy,and if she can get those boys from Keith Sweat,that is money in the bank.You got a new husband,what you want to take everything from Keith Sweat.New Husband/baby move on with your life, those other boys are over half grown,let their dad,be the father figure in their life, he don’t need Ed raising his kids.That’s the problem now,let these men raise their kids.You have enough on your plate,what with your so call business, the Nanny gonna be raising them.Just let go, be their mom,be their for the visitation,if women can do it,so can men.It takes two to tangle, and i can just imagine Lisa was probably a piece of work for Keith to handle,that mouth,blah blah,blah,blah all the time,SHIT. I never heard anything about Keith Swear in abruisive relationship,i think Liza is just like Kimora Simmons use these men for money and power,because until now i did not know who Keith Sweat was married too, even that he was married and had kids.HELLO

13. tawnya on August 14, 2009 10:11 pm

    Abe,

    Get a clue princess! Lisa and Ed are doing what all those with means are doing. As one stated above, why keep pouring good money into a bad investment?? Get rid of the old and start with anew. Lisa and Ed are no dummies when it comes to making/keeping money. I too will follow suit. I too have the means to move up when others are one paycheck away from living in the gutter. Why would I continue to live in a house that I paid 1/2 million for, when I can puchase a larger, more prestigious home for less than I owe on my current home. Don’t blame the Hartwell’s for this housing crisis. Get in while the getn’s good. Abe, sweetie–don’t hate the player(s)****Hate the game!

14. Toya on August 15, 2009 7:26 pm

    How stupid do some of you sound! Making statements like she needed to stick with Keith Sweat,he is such a good singer! First we don’t know what went on in that marriage and just because someone can sing(if that’s what you call it) doesn’t mean that they know how to be a husband! Furthermore if she and her husband decide to have more children it’s because they won’t to and not for a competition. It amazes me how women can be so stupid and down on other women. The last time I checked it seems that Lisa is the financial brains of that family! And how in the hell did you get on Kimora, that chick had money before Russell and is making hella money with out Russell. ( Now she may not have had Russell money but modeling for Chanel and other major designers since she was like 14 paid well) When your in a marriage it’s a partnership each person shoud support the other in anyway the can. Both are making money for their FAMILY’S!!!!!!!Research your information before making stupid statements! The fact is all of the women have something that makes them special and exciting. I don’t always like what they do or how they come across in every situation but I do appreciate that they are all about business. Each of them are human and everyone makes mistakes money doesn’t exclude you from the same problems as other’s. We as readers get only what the press wants us to know, never is it the full statement we don’t know what caused some of these problems or why people do what they do! But what i can say is a beat that some of these same women dogging these sista’s about what they do and don’t do would kill to be in their shoes!Get your on stuff right before judging someone else. Worry about how many baby daddies you have, if your kids are making good grades, going to church, respecting themselves and other’s. REALLY WAKE UP!!!

15. DebtFree on August 15, 2009 7:47 pm

    Sure, they signed a mortgage contract — one that stated if they don’t pay the mortgage, the bank takes posession of the collateral (the house). The contract was honored, they walked away, the bank took the house.

    I wish more houses would enter foreclosure so home prices can correct more quickly, instead of all the government attempts to artificially prop up home prices so they remain at Bubble Peak levels — now that’s stupid.

16. RB @ RichBy30RetireBy40 on August 15, 2009 8:22 pm

    How on earth can they FORECLOSE and then go buy another????? That’s a load of crap. God bless America!

    Rgds,

    RB
    Rich By 30 Retire By 40

17. abe vigoda on August 17, 2009 7:48 am

    Tawnya,

    First, I’m not your princess or sweetie.You must be mistaking me for someone that would associate with your ilk. Second, I am glad you announced publicly your intent to walk away from your present obligation and purchase another mortgage based on an ‘investment decision.’ I hope you have a good attorney on retainer.Third, your lack of knowledge on real estate law is only exceeded by your poor communication skills. “Get’ns good? don’t hate the player, hate the game?” Those are clearly someone of high schooling and moral fiber. You obviously watch too much MTV cribs.

    You are only fooling yourself if you think the FBI, IRS, and other agencies are not looking at these type of transactions. Especially the high profile ones. I’d love to see you do the frog walk and then let’s see how arrogant you are then.

    So tell us, what are the legal and tax consequences when you decide to walk away from your present mortgage obligation in Georgia?

18. Terry on August 24, 2009 11:17 pm

    Ashamed as I am, I gotta say that I watch this “stuff” every week as work permits. I have watched each of the county series and can usually get aligned with somebody in the early-on and stick with them. With these bitches I have been all-over-the-board and back. I don’t know who the “H” I think is right most of the time. All I can say is that I miss Deshawn, LOL! I gotta say that right now (8/22/09) I am siding with Kim and thinking the others are dumb bitches (not Kandi - I’m just not feeling that at ALL anyway); allow
    me to pick on the one who irritates me the most - Lisa Wu Hartwell; now - I am white and date black men so I’ll just put that out up-front; one of my most significant relationships was with an NFL player so I feel like I can comment on the Wu-Hartwell relationship with some knowledge. I will tell you that from my vantage point she is a gold-digging whore. Keith Sweat was/is/will always be a damn fine sexy man with-what-appears-to-be a level head on his shoulders. During the first season of the show I thought this girl was one lucky trick to have had Keith and the very-hot Edgerton Hartwell in one lifetime. No one should be that lucky. When I watched Edgerton’s underwear buttock fashion show dance I secretly wished bad things for Lisa Wu out of jealousy; everything changed this season - she is more annoying than ever and he is also; he has been relegated to nothing more than her “bitch” (trying to be in every scene and breed her) and I must say that if you stripped the Ed Hardy wardrobe
    off of him and put on some denim overalls, he would be one Toby that would go for a pretty
    penny on the block. She has bragged for two seasons about all of their successful businesses that he runs - okay - um - you got booted out of your house that you brag about with the basement bowling alley. Foreclosure/short sale - whatever - you’re out “trick” cause there is no money; seems that Keith is still in his house on
    the water (with your first two sons)

19. Traylee on August 25, 2009 7:09 pm

    After reading the ridiculous comments on this blog about how smart it was for Lisa and Ed to do a short sell on their home because it lost value is a level of IGNORANCE I must address. First let’s all understand that a short sell is a bad thing. This basically means you can no longer afford the house and your last resort is to negotiate a short sell with the lender. Also, in order to qualify for a short sell you MUST prove financial hardship because you have to justify to the bank the lost taken on the house. Millions of American homeowners have lost value on their homes too, including me. But, we are not doing a short sell and ruining our credit as a result. Why? Because we can still afford the payments. We “ride out” the downturn because we know it will come back as this is the nature of the market. The real estate market is similar to the stock market, it will go up and go down in value as you own the stock or house. Also, they probably bought the property using an ARM (adjustable rate mortgage)or an Interest Only loan and when the loan adjusted they could no longer afford the payments.

    I read on another blog that the house they moved into was a house Ed bought in 2005, so they didn’t go out and purchase new property. Why? Because a lender will view them as a “high risk” candidate and not approve them for a loan. They have definitely ruined their credit for at least 2-3 years, maybe longer.

    The lack of basic real estate knowledge from some of you is the same ignorance that lead many people to take out bad loans. Do yourselves a favor people and educate yourself before you speak.

20. christene on September 5, 2009 8:12 am

    “You are only fooling yourself if you think the FBI, IRS, and other agencies are not looking at these type of transactions. Especially the high profile ones. I’d love to see you do the frog walk and then let’s see how arrogant you are then.”

    IT’s FRAUD and I hope everyone like them get nailed.

21. mobilekaren on September 5, 2009 1:35 pm

    This will be beautiful when it is finished.

22. new mortgage on September 5, 2009 1:37 pm

    Wish I had the 1.5mil to buy it.

23. loan modification on September 8, 2009 1:40 am

    *still chuckling — lol, real housewives of the depression.. well at least she has bought another place. was she the screaming one on the show?

24. mizblkpatriot on September 10, 2009 9:02 pm

    1. stop hating

    2. Bernie Maddoff; paid off the SEC for 20 years and swindled 50 Billion dollars from investors and you have the nerve to blame the failed real estate market on the Hartwells.. Not to mention wall streets back end deals with repackaged and bundled mortgages.

    3. None of you know the details of her finances and its no one’s business anyway; obviously you don’t walk away from a foreclosure without repercussions of some sort. p.s how is this different from filing a bankruptcy….hello???

    4. America is not used to seeing blacks on television in a none pimp, whore, gang banging, criminal capacity; I understand this is new to most of you but you will get used to it….they may or may not have money but I know people who act just like these ladies, they are not unusual.

    and lastly; this is a reality show with scripted situations not completely spontaneous…..enjoy the comedy of it and relax…its just not that serious people!!!

    btw; Ed Hartwell is fine and he loves his wife (shocking for a black man but true)

25. mizblkpatriot on September 10, 2009 9:10 pm

    My only real issue with this season is the constant stream of drag queens featured on this show. I have no issue with gay men, luv em; but this is ridiculous. All the other cities had their one honorary queen that would make an appearance from time to time..funny ….great. But rwh atl has a drag queen per housewife…i can’t even watch this with my son with out having to explain why this MAN is wearing sequined stretch pants and pumps and carrying a women’s purse (i will say Deric J has fabulous taste in handbags but i digress). Give me a break, the only thing sadder is that this is the reality of Atlanta; unfortunately

26. genny on September 17, 2009 9:52 pm

    Well, for those of you who are so quick to jump on the bandwagon and complain that these people are getting rid of a bad investment and starting fresh, what do you think bankruptcy does? The rich has been using this scheme for years. The same occurs with stock. You and I pay for it. The housing market was built on a fraud with overinflated prices. Everyone made money the banks, real estate agents/brokers, etc. Let’s not talk about Wall Street over the rich companies that outsourced our jobs. We were all duped.

27. bigeasy830 on October 1, 2009 7:21 am

    Why do people of color make excuses for people of color who do stupid things is beyond me. Lisa Wu and the rest of that Atlanta crew is trash. They are gold digging trash and the men they are dealing with are love blinded fools. their rep said they bought another home out right. I doubt that, sounds like spin to me, pretending those 2 have not wasted millions. Ed Hartwell signed a huge contract with the Falcons. He pretended to be hurt and stole from them for a few years. If he was too stupid to manage his money and be able to buy a 3 million dollar home with that golddiging wife of his then so be it. Why many of you people worry about Lisa Wu’s and the rest of that trashes finances puzzles me, worry about your own. I am a black man that bought a home last year to see it worth 10 thousand dollars less than I abought it for this year and now seeing the exact same home in my sub-division being sold for at least 20 thousand dollars less and forclosures for almost 100 thousand dollars less. But, I intend to weather the storm and thank God I have a decent job and can hold it down untill things turn around. I am blessed to be only 10 thousand doallrs under water, for many in my sub division it is worst. I support President Obama for now, but I do see what some of his critics are saying about The President trying to bail everyone out. If you make bad decisions then you should suffer the consequenses. I agree everyone should have health care, but remember, you get what you pay for. If you pay 10 dollars for a doctors visit, he will give you 10 dollars or less worth of care. So all those who work hard and try to do the right thing, don’t let hatered influence your judgement and others don’t let the threat of racisim influence yours. The only color that have ever mattered in this country is MONEY GREEN. You can take that to the BANK.

28. shana on October 4, 2009 8:31 am

    How are you lisa im one of your bigest fans keep your head because you are a really good person put god first and you can make.

29. Timkia on October 5, 2009 12:08 pm

    Ok i must say that I have read everyone comments on this site and that is what is wrong with today’s society EVERYBODY IS WORRIED ABOUT THE PERSONAL LIVES OF ANOTHER. This world is really sadd because if all you do is sit at home reading magazines or internet sites dying to find out what’s going on in the world of another person is very sick. Especially if it is not a positive move. I am very big fan of Lisa Wu Hartwell and Kimora Lee Simmons. The way i see it Continue to go for yours and to hell with what everyone else may think, because here is the deal NO ONE has given neither one of you a check to help with any financial problems you may occur. I love the fact that you are both positive women in this sick world. As for Lisa and Ed house going into Foreclosure so dammit what WE are in a DAMN RECESSION and at least they were blessed enough to keep a roof over there head. We got some people who lost there home and have NO WHERE to turn especially without someone whispering there assumptions. Wake the hell up people and get a clue…. To the ladies you both are still my motivations to continue to be a strong woman such as yourselves. As far as Keith Sweat we don’t know what happened in there marriage Lisa doesn’t come off to being that woman that is willing to put up with any damn thing just to say they have a man so instead of thinking she shouldve stayed with his whinning no singing ass you all need to get it together thats why r sisters are messed up today MOVE ON and be happy stop trying to be with someone who TREAT you like the bottom of your shoe just so your girl won’t talk about you….. Good Move Lisa and I hope you and Ed get a little LISA, your definitly in my prayers for strength and blessings.

30. Timkia on October 5, 2009 12:12 pm

    this comment is for bigeasy 830 LEARN TO SPELL BOO BEFORE CALLING SOMEBODY A GOLD DIGGER OR SAYING HE STOLE MILLIONS FROM THE FALCONS. ARE YOU UPSET YOU DIDNT GET A PIECE OF THE PIE. WOW LOL

31. Alex on October 22, 2009 7:43 am

    i read some comments and i am laughing at faychica with her stupid thinking way. take a good look at AIG and GM and a few other major companies that took goverment money that you have to pay back and while you are struggling to meet your own debts they are throwing a multi million dollar party with bonuses while claiming bankruptcy. and you have a problem with lisa? wake up missy smell the cow manure…

32. Gl100Mortgages on November 3, 2009 6:28 am

    Wow that is some loss there, around a third of the value, yikes.

33. birthdayprincess on November 5, 2009 1:09 pm

    Some people are mean. I know someone who bought a second home (similar to the first one) at a bargain price in CA and then foreclosed the first house. Make me cringe… I feel stupid…

34. patricia salles on November 7, 2009 6:02 am

    i feel that lossing there home is there own bussines and it dosent change the pepole they are i love them both .and with there new home they will be ale to live better an i wish you both well love you pattie s.

35. wcollins on November 8, 2009 10:51 pm

    1. Every last person on here needs a grammar lesson or at least learn how to proof read.
    There is in reference to a location. Their is reference to a possession of a person.
    They’re is a conjunction combining the words they and are. So if you’re writing “I feel
    that loosing there home is there own business” it should read ” I feel that loosing their home is their own business”.

    2. Whether Lisa Wu Hartwell has children by another man and chose NOT to stay with the father is her concern. Obviously a good portion of you all didn’t watch the episode where she stated she had be previously
    physically and verbally abused.

    3. Let’s reclarify: the Hartwell’s DID NOT buy another property. They downsized and moved into Ed’s former bachelor pad.

    4. Keith Sweat CANNOT sing!!!

    5. If Lisa was a TRUE gold digger she would’ve divorced Ed after he was injured from playing in the NFL and took all that he was worth! Since he could no longer provide, maintain nor keep her current lifestyle!

    6. Lastly, if it was such a BAD thing for the Hartwell’s to get out a situation that would’ve ended with them owing the bank if they DID sell their property; then how is Donald Trump can file for bankruptcy every seven years to free himself of bad debt and restructure his finances?!

36. Jp on November 18, 2009 6:18 pm

    You dummies! They didn’t lose one dime!
    THey were incororpated, no money dowm andwalked away.
    No wat the bank can get money back.
    Don’t you people read WHY we are in this mess.
    THESE people speculated with out risking their money!!!