Take comfort dear comrades of the United Socialist Republic of America that if you are old, feeble, and you shoot yourself, Freddie/Fannie might go ahead and forgive your mortgage debt on your modest home.
Don't believe me?
Look they did it for Addie Polk of Akron, Ohio today.
Wasn't that compassionate of our overlords?
Friday, October 3, 2008
If you are old and try to kill yourself, Feds will forgive your mortgage debt
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4 comments:
Addie was 'late' only with respect to her mortgage payments.
Thanks for the correction, downtown.
I suppose I was thinking of the folks in Marion county who committed suicide over their property tax bills.
Dennis Kucinich (D - OH I believe) in a rather unkooky and strong moment for him, quickly and passionately told Addie's story from the floor of the House today.
Here's the facts about Ms. Polk as they are currently known: In 2004, when she was 86 years old, she took out a 30 yr mortgage for $45,620 and on the same day took out a HELOC for $11,380.
Now why would an 86 year old woman take out a loan on her house? Could it be that she did not properly plan for retirement and did not have enough to live on so she got a loan from the bank to float her for a couple of more years? That's pure speculation on my part as many other scenarios may explain her situation, but your subtle accusation that Fannie is to blame for this sad situation is misplaced.
Reference:
http://www.cnn.com/2008/US/10/03/eviction.suicide.attempt/index.htm
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