Statehouse candidate explains foreclosure | Local News | Summerville Journal Scene

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Statehouse candidate explains foreclosure

Published Tuesday, February 21, 2012 1:05 PM

By Leslie Cantu
Summerville Journal Scene ®

A recently-announced Statehouse candidate said his personal financial troubles are the result of the economy, not irresponsibility on his part.

Jordan Bryngelson said earlier this month that he would run for the Republican nomination for the State District 97 seat, currently held by Rep. Patsy Knight, D-St. George.

Bryngelson’s Ridgeville home is in foreclosure proceedings. He said he’s paying off the past due balance and expects to be completely caught up next month.

CitiMortgage filed a foreclosure action against Bryngelson and his wife in March 2011.

The bank alleged in court filings that Bryngelson took out a $200,000 adjustable rate mortgage in July 2007 for his home on nine acres. According to an expired home listing on the real estate site Trulia, the house was built in 2007. Bryngelson obtained the land in 2006. "The property has been in the family for more than 300 years, according to a campaign press release."

The bank’s March 2011 filing said the Bryngelsons owed payments dating back to October 2010, for a total of $205,116, including advances, late charges, and the costs of the foreclosure action were included.

Monday, Bryngelson said he got behind on payments when the family business, Bryngelson Construction, closed. He had been a project manager there and was “in a pretty good bind” when he lost his job.

Bryngelson said he wasn’t underwater on his loan and hadn’t bought more house than he could afford. He said he didn’t get any assistance to stay in his house but instead worked out an arrangement with the bank to make additional payments and get caught up.

“I got three jobs and busted my tail. My wife went to work and we’ve been scratching and clawing our way back,” he said.

In a statement Tuesday morning, Bryngelson wrote, “Under financial hardships that many others have faced, I took on two jobs to make ends meet and honor my commitments; the rich and retired should not be the only people who serve in public office. It’s time for a middle class working American who knows the struggles of everyday life to represent us…”

He currently works as an insurance agent and has been licensed since April 2011, according to the S.C. Department of Insurance.

Bryngelson said he sees a difference in his circumstances and that of someone who bought a bunch of rental properties and took a hit financially so decided not to make payments or who bought more house than he could afford.

He’s not in favor of government intervention in people’s finances, he said.

“I’ve worked hard to pay my bills and be responsible and not back out of the debt I owe,” he said.

Although he’s not proud of the foreclosure, he is proud of the hard work he and his wife have done, he said.

Someone who’s completely insulated from the effects of the economy would have a hard time understanding what people are dealing with and making policy decisions, he said.

Billy Simons, who has taken on an active role in Republican politics and the Charleston Tea Party, said Bryngelson’s finances shouldn’t be an issue for voters.

“He was a victim of this economy like many people. …He lost his job through no fault of his own,” he said.

If anything, Bryngelson should be applauded for the way he responded, Simons said.

“Attorneys representing CitiMortgage wouldn't comment without written authorization. The last filing in the court records, dated November 2011, is a notice of the right to foreclosure intervention.”

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