Sister Wives family and the financial crisis have been going hand in hand since the day they uprooted their lives in Vegas and made the hasty move to Flagstaff, Arizona. We have seen that their lives have never been the same and it has been hard for them to recover from all the financial trauma. Moreover, who is to say that they have even recovered?
Nevertheless, they never cease to pool out their money despite the massive shortage. Kody and Robyn bought almost a million-dollar home and are now in need of an urgent loan of $150,000! Let’s take a detailed look at it.
Sister Wives: Kody and Robyn’s Mansion Invites More Financial Trouble?
According to the Arizona court of records, Kody and Robyn applied for a home equity line of credit on March 20, 2020, for $150,000. According to the legal documents, there was an urgency in the entire deed. Their requirement for money got so bad that they agreed on waiving their rights to Arizona’s Homestead Exemption.
In case Robyn or Kody file bankruptcy in the state the Homestead Exemption is meant to protect $150,000 of home equity. TFC National Bank is the lender or the beneficiary. The maturity date is April 23, 2050, as far as the flexible interest home equity loan is concerned. The day March 31, 2020, marked the approval of the request.
Sister Wives: Time of Crisis Prompt People To Take Big Steps
Jay Luchs, a real estate expert stated that most people are going to do whatever it takes for them to get out of such a major crisis situation. This also includes taking home equity lines of credit against their own houses as well as condos.
As for Kody, he has a history of financial troubles. He sol their house in Utah at a loss after the state started investigating their polygamous arrangement which was illegal. When they decided to move from Vegas, they struggled to sell their houses.
After bringing the prices down, the sale somehow happened with great difficulties. In the premiere of the latest Sister Wives season, Christine told the cameras that the family was drowning financially.
Sister Wives: Kody Bullied Robyn Into Buying The House?
Kody admitted that he bullied Robyn into buying the 5-bedroom apartment. Robyn was opposed to purchasing a house as she thought that it could affect the family’s plans for utilizing the Coyote Pass land. They are yet to build on that land and Robyn also thought that her buying a home with Kody would be an injustice to the other wives.
However, some fans think that it was all because of Robyn so that her son Dayton could live at home. Anyhow, the Brown family has paid a huge price uprooting their lives from Vegas without much thought. Will they be able to recover from the financial trauma easily? Let us know in the comments below.