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Fannie Mae forgives the debt of a 90yr old woman who...
Posted by poisonapplesauce • 10/04/08 • Subscribe to this Discussion [RSS] • Report This Topic
Topics: fannie mae, forclosure, free house
An elderly lady in Akron Ohio was faced with eviction from her home and shot herself. Fannie Mae gave her the house.
www.cnn.com/2008/US/10/03/eviction.suicide.attempt/index.html
I have mixed reactions about this, my first is how lovely it was for Fannie Mae to show human compassion and empathize with Mrs. Polk, in any other economic time I wouldn't think twice about it being a wonderful thing.
Though since Fannie Mae is/was one of the train wrecks, I almost felt like scolding them for it. Who is to say that now other home owners wont follow suit to get a fre house? These are desperate times for some folks. What's your take?
User Comments
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yes it is desperate times,the trend here is that people are getting out of the zero down mortages they took out years ago with the adjustable arms and going out and buying the house they really can afford and instead of selling their house they just let it go to forclosure....once they had the new mortgage they didn't care , or people are stripping their forclosed house for every fixture, cooper piping etc before they leave and the bank is left with a house needing thousands of dollars of work just to be able to sell it.....it is desperate times yes -
I agree this sets a bad precedent.
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