Author advises dump your mortgage, transform yourself

Wed Apr 15, 2009 4:13pm EDT
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By Bob Tourtellotte

LOS ANGELES (Reuters Life!) - Iris Martin is not a banker, real estate lawyer or mortgage broker. She is a former psychotherapist specializing in transformative psychology.

Martin, who worked in the White House with former U.S. president Bill Clinton and was a member of Pennsylvania Governor Ed Rendell's finance committee, said when she first read about the mortgage foreclosure crisis last year, she saw an opportunity for people to take charge of a bad situation and, by doing so, transform themselves.

So Martin has written a book, "Mortgage Wars," which tells people how to fight back against predatory lenders looking to foreclose. She documents legal cases in which others have fought and won their homes' titles free and clear.

Martin admits that not everybody can prevail against a lender, but she passionately argues that many people can if they know how.

She spoke to Reuters about the book and how to cope with foreclosure.

Q: How does a self-described former psychotherapist who spent 30 years specializing in transformational psychology get involved in the real estate market?

A: "I was reading about what was happening to homeowners, and no one was screaming about the psychological damage being done ... I started talking to people who were going through foreclosure and the emotion was a combination of terror, self-hatred, anxiety. It's equal to divorce and can lead to a complete breakdown of the family, or worse, because it deals with people's basic need for safety and security."

Q: You say, "when I started reading about," when was that?   Continued...