ARIZONA LAWMAKER SUED BY HER MORTGAGE LENDER 3-14-2010

LINK FROM: www.newzzcafe.com SCOTTSDALE, Ariz. -- Ariz. Rep. Michele Reagan, R-District 8, is better known for fighting for new laws, but now, she is speaking about her fight against a lawsuit. Reagan is being sued by her mortgage company after she questioned who owned held the note on her home. "It's really scary," she said, "I think that this really needs to be brought to light that this is happening to people in Arizona." Reagan had wanted to find out she and her husband, David Gulino, could refinance their south Scottsdale home. "In doing research, I began to wonder if the lender even owned the note to my home," she said. "So I sent them a letter and asked them and asked them several things. I want to know who owns my property. Am I paying the right person?" Soon after, Colonial Savings filed a lawsuit in US District Court against Reagan and her husband. The company says the couple is trying "to rescind their home loan," or back out on the loan. "We're not interested in walking," Reagan said. "We're not interested in saying we're not going to pay. We just need a little help with the interest rate." "I'm current on my loan. Never missed a payment. We've never been late. We were sued for asking too many questions," said Reagan. As a state lawmaker, Reagan said she had been hesitant to speak out about her ordeal. "This has now snowballed into something so much bigger and scarier than refinancing and asking who owns your note," she said.



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