The sadness begins

S

Sblake

New Member
#2
#2
Weird because this has been going on for over a year now. Strange that, so far into the mess, this would be when the sadness begins.
 
Mo Nose

Mo Nose

Paradox in a pantsuit
#4
#4
Sblake said:
Weird because this has been going on for over a year now. Strange that, so far into the mess, this would be when the sadness begins.
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i hadn't heard about other 90 year old women shooting themselves for getting evicted. how about even more sad with bloodletting?
 
S

Sblake

New Member
#5
#5
icouldbewrong said:
Poor choice of words. Can't edit a thread title, though.

Thanks for your help.
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My response was poorly phrased. I just meant that I can't believe it took Congress and the government this long to see the problem. And they're still doing little to help people like this poor woman. Infuriating!
 
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F

Fred Garvin

Active Member
#7
#7
In 2004, Polk took out a 30-year, 6.375 percent mortgage for $45,620 with a Countrywide Home Loan office in Cuyahoga Falls, Ohio. The same day, she also took out an $11,380 line of credit.

she was 86 in 2004 - why did she take money out of the house? and what changed in her economic situation since then (since the mortgage appears to be fixed rate) that precipitated the foreclosure? Whatever pension she had didn't end - social security went up for her I assume. and where is her family to help? The mortgage was 280 a month plus taxes and insurance.

yes its sad but i don't think its a good example of the "crisis" we are in.

i think it is a problem with countrywide granting a mortgage to an 86 year old woman on a fixed income

and i am not TRYING to be callous or insensitive - i just want to understand the exemplars being used by kucinich et al
 
I

icouldbewrong

Active Member
#8
#8
Fred Garvin said:
In 2004, Polk took out a 30-year, 6.375 percent mortgage for $45,620 with a Countrywide Home Loan office in Cuyahoga Falls, Ohio. The same day, she also took out an $11,380 line of credit.
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Would a reputable lender have told her she very well might have been eligible for a reverse mortgage?
 
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