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Apr 22, 2008 9:17 pm US/Central
FW Family Raising Money To "Save Granny's House"
FORT WORTH (CBS 11 News) ―
A 69-year-old North Texas woman is about to lose her home, and her grandchildren are doing all they can to help.
The family needs to raise more than $62,000 in eight days to keep the home out of foreclosure.
As the clock ticks down, they hope their story will help others realize the dangers of reverse mortgages.
Dorothy Menefee moved into her older sister's home in south Fort Worth a few years ago and the two were inseparable. "We did everything together," she said.
That bond was broken last November when pancreatic cancer claimed 80-year-old Ruby Stewart's life.
"I try to stay pretty upbeat and not be depressed, but I miss her so much," said Menefee. "Everything is just like she left it, and I try to keep it that way."
In the midst of her grief Menefee said she got a surprising letter from the bank. It said the family had to pay Wells Fargo $62,000 or the house on Glen Eden Drive would go into foreclosure.
"They gave us 30 days," said Menefee. "That was quite upsetting."
The situation stems from a reverse mortgage Stewart took out on her property.
She knew it had to be paid sometime after her death, but her family said she thought her home wouldn't have to be sold until after her younger sister also passed away.
"She assumed that by me signing on as staying with her for three plus years, that everything was okay," said Menefee.
But it's not. If the loan isn't paid by April 30, Menefee will lose the house.
Her grandkids are trying to create a miracle with a Web site called
Save Granny's House.com.
They're sending everyone they know a link, asking them to help anyway they can.
"We're just asking people if they could donate a dollar," said Menefee.
Menefee says it feels like her sister is still with her, and she can't imagine losing the home that brings her so much comfort. "It would be devastating to all of us," said Menefee.
Donations can be made at Omni Bank in Fort Worth or through the
Save Granny's House Web site.
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