Tisha Campbell’s mortgage crisis

By Kendria Brown, NDG Intern

Tisha Campbell, better known as “Gina” from Martin is not having the best of luck these days when it comes to her financial life; mortgage in particular. Campbell and her husband Duane Martin took out a home equity loan in the amount of $625k with City National Bank back in 2008. At the time, Campbell and Martin already owed more than $730k mortgage to Aurora Bank.

The newest home equity loan was for a waterfront property located in Lake Arrowhead, CA. Campbell and Martin allegedly defaulted on both home loans. When this happened, the Aurora financial institution foreclosed their home and auctioned it off for a $925k. This money allowed Aurora to collect their debt and the remaining $192k went to City National Bank.

However, City National wants the rest of their money back plus interest. Campbell and Martin believe this a matter of discrimination, and they should not be subjected to pay the money back to that financial institution. They feel that City National is just “bullying” them for unpaid money that they should not have to pay. City National allegedly received a $400 million-dollar government subsidy in 2009 to help people like Campbell and Martin when they are facing mortgage crisis. The couple wants to ensue further legal action against City National Bank for claims of discrimination. Who do you think will win, the bank or the Martins?

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