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Kisa and Jewel Holmes purchase their home at 1739 Pauline Street, on July 14, 2005, for $113,000. The 9th Ward home is the first home they've owned. They move in less than a week later, on the 20th.
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Hurricane Katrina, which caused property damages of an estimated $45 billion to homeowners and businesses across the Gulf South, ravages New Orleans. The Lower 9th Ward, the neighborhood in which Kisa and Jewel's home lies, takes a significant chunk of damage. The Holmes' house receives six feet of water, just weeks after the family moved in. Kisa, Jewel and their five children pack their belongings and move to Kentwood, LA. Image courtesy of the National Oceanic and Atmospheric Association.
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1739 Pauline St. NOTE: Photos were taken December 2011.
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1739 Pauline St. Front door.
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1739 Pauline St.
Second floor. -
1739 Pauline St.
The door and lock that thieves pried apart to steal The Holmes' generators, beams, and sheetrock they bought with SBA loan funds to fix their home. Two bathroom sinks were also stolen. -
1739 Pauline St. Gutted out living room and hall.
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1739 Pauline St. Vines grow in a living room window.
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1739 Pauline St.
Holmes' driveway. -
HSBC, Holmes' bank and mortgage lender, sends Holmes a letter that advises her to either complete paperwork that authorizes them to sign off on the check her insurance company has mailed her, thus enabliing to her to fix her house, or send in the insurance company's check directly to them if she intends to pay off her mortgage with it. But Holmes claims she was advised over telephone conversations with HSBC representatives that it was in her best interest to simply pay off the mortgage.
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The Holmes' receive $135,000 from their Fidelity Insurance flood policy. $100,000 is awarded for the house, and just more than $35,000 is awarded for contents. Shortly after receiving the check, Holmes mails it to HSBC with instructions to pay off the mortgage.
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The U.S. Small Business Administration awards Holmes a $53,800 loan. Holmes uses the cash to gut and clean her home, purchase a new roof, buy generators, beams, sheetrock, and ladders. The cash is a first step for Holmes. But shortly after she stocks her home with supplies, thieves make off with the goods.
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<a href='https://www.hsbcmortgageservices.com/home' >HSBC /a>sends Jewel and Kisa a paid in full receipt for their mortgage.
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Holmes goes to pick up her Road Home check. But the $998 she gets is much less than she expected. The agency gives an applicant who has received insurance money additional cash if they can prove that a lender paid off their mortgage with that insurance money without their consent. But because HSBC had her instructions on file to use the insurance cash to pay off mortgage, Road Home considered that a voluntary payoff, though the Holmeses feel they only did as they were instructed by the bank.
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Holmes' SBA loan also contributed to her decrease in Road Home funds. Because SBA and the Road Home are two federal agencies, to receive funds from both is considered a duplication of federal benefits. When an applicant receives Road Home cash after getting an SBA loan, the total cost of the SBA loan is deducted from the Road Home award. Essentially, Holmes involuntarily paid off her SBA loan with a large chunk of her Road Home money.
