And Then the Roof Caved In

Chapter 2

Home Sweet Home

 

 

 

In May 2005, Arturo Trevilla, a Mexican immigrant who wanted to be an entrepreneur, bought a house in San Clemente, California for $584,000. It was the first home Trevilla had ever owned and it made him feel like he was finally an equal of his countrymen in the adopted land he called home.“We felt we were part of America because we could afford to buy a house,” explains Trevilla.

But Arturo Trevilla could not really afford to buy that house in San Clemente.Trevilla couldn’t afford to buy a house anywhere in California in 2005. The mortgage application that Trevilla signed when he was lining up his financing stated he was earning $16,000 a month. The truth was that Trevilla was actually bringing home $3,600 a month.

Trevilla admits he didn’t really understand all the terms of the contract he signed. “There were probably more than a hundred pages to sign and only in English. And to be honest, I didn’t really understood most of those papers that I sign. Because I was really happy, excited and I totally trust in the people [broker]. I trust them and I just want to get the house.”

Trevilla wanted to move his three children to a place where they could play freely. “They can stay for hours playing at the garage and it’s really safe, really safe.We can leave our house open during the night and it’s really safe.”

Arturo Trevilla

Photo courtesy of CNBC.

But he ...