NASHVILLE, Tenn. (AP) -- The million-dollar home of Eddie George and his wife Tamara will be auctioned off June 7 -- to the surprise of the Georges.
An accountant for the couple tells The Tennessean the Georges have been trying to modify their loan for several months but that they find themselves in the same situation as many American homeowners -- stuck with a house no longer worth what was paid for it (http:tnne.wsL4H09V).
Larry Goodman says he was shocked to learn the auction was set. For the past seven months he has been negotiating with IndyMac Mortgage Services to establish new terms for the Georges' mortgage.
They stopped making payments several months ago, Good said, because the mortgage company refused to discuss the matter with them because they were current on their payments.
"We're not trying to walk away from anything," Goodman said. "They love living there, it's a great house. Like anybody else who buys an expensive house, it flipped on him."
Just three weeks ago,...