If there’s one thing that’s “real” about “The Real Housewives of Atlanta,” it’s real financial problems.
Now it’s Lisa Wu Hartwell’s turn. She lost her mansion in Duluth earlier this month, according to TMZ. The report says they defaulted on their mortgage and the bank took over.
In an interview at 3:05 p.m. today by phone, Lisa said she and her husband Ed left the home voluntarily.
“Ed and I are not ignorant of the state of the economy,” she said. “We chose to move. We were not evicted. It was a decision we made. It was not made for us.”
It sounds like they purposely chose to stop making mortgage payments and allowed the financial institution that owned the mortgage to pick up the pieces.
She said more details will be revealed on a later episode of “Real Housewives of Atlanta.” “I can’t give away storylines,” she said, as the Bravo publicist listened in.
Lisa said she and Ed built the home in 2004-05 with nearly 10,000 square feet of living space. They have since moved to another home they owned, which is on ten acres. “We’re doing fine,” she said. “I love where I am.”
She said the home they built was originally appraised at $3.1 million but is now worth only $1.9 million With $2.9 million mortgage, they were under water. According to documentation my colleague Nedra Rhone procured, Bank of America bought back the property August 4 for $1.9 million. It was not a foreclosure, as some reports stated. It was a short sale, which doesn’t hurt your credit score as badly.
So why not sit on it until the market recovers? “Why throw around $30,000 a month and wait for the market to come back if it comes back?” she said.
Lisa, who runs a real estate firm, has a point. The high-end real estate market may take years to recover.
She said she is making income right now via speaking engagements and endorsements. I was about to start pressing her for more details about endorsements when she said, “You’re sure asking a lot of questions!” I joked that this is what I do for a living. Then the Bravo publicist decided we were done.
Later on, my colleague Rhone went to her current residence and spoke with Ed Hartwell. You can get details here.
Kim: I was just choked by my little cast member at Taste at Atlantic Station. [A publicist for Taste said the altercation did not happen in the boutique.]
Dispatcher: You were choked by what?
Kim: By uh. I was casting my show or starting to film my show and I was choked by one of my cast members.
Dispatcher: What’s the location where you ened teh police?
Kim: I’m at the Target shopping center.
Dispatcher: What’s your name?
Kim: Kim Zolciak. Z-o-l-c-i-a-k.”
Dispatcher: And you’re in the parking lot of Target.
Kim: I’m not actually in the parking lot. I’m behind the building. There’s an underground parking center. I’m right across from Ten Pin Alley.
Dispatcher: What you wearing?
Kim: I’m in my car in a white [garble]
Dispatcher: Alright, we’ll get the police out there.