'Octomom' Hatches Plan to Forestall Foreclosure


Octuplets mother Nadya Suleman gets to keep her La Habra, Calif. home for at least another six months. Suleman, branded "Octomom" by the tabloids, avoided foreclosure after missing her March 10 deadline for a $450,000 balloon payment.

According to Suleman's lawyer Jeff Czech, her mortgage holder, Amer Haddadin, who is also the home's former owner, agreed to an extension on that payment. Under the new agreement Suleman must pay $4,000 a month until the balloon payment is due.

"There are eleven alternatives to foreclosure so she will be fine," says Sam Gailbreath, a loan officer for Monarch Bank who has no specific knowledge of her situation. "Basically, it takes at least six months to foreclose a home depending on the area, or, in some cases much longer." Meanwhile, Suleman can negotiate a new mortgage arrangement or loan modification.