May God bless Miss Addie!

CarpMan · 10-05-08, 08:22 AM

It's a sad day in our Country when our elders believe there is no hope for them. I sure hope she pulls through this. She has my Prayers.//www.cnn.com/2008/US/10/03/eviction.suicide.attempt/index.html

Bo Dale James Jr. · 10-05-08, 09:11 AM

Well that is certainly unfortunate, I assume she had to get a loan to pay expenses.
She was 86 when Countrywide lent her the money and opened her 11K line of credit.
That in and of it's self seems predatory. I'm sure she is on a fixed income..I do feel bad for her. I imagine we all can end up like her if we out live our savings.

Jim80 · 10-05-08, 11:06 AM

That really is a shame why would they give her a 30 year loan at that age . at least if she recovers they will let her keep the house and forgive the debt .

Jim

cassidyta · 10-06-08, 12:14 AM

I have mixed emotions on this one. I hope she does well, but I fear that people will see suicide, or at least serious bodily injury as a way to get out of the mortgage. Please don't think I am saying she should be kicked out. I just worry about the precident set by saying she put two rounds in her chest so we will forgive the loan.

robertmee · 10-06-08, 11:45 AM

I hate to be heartless, but I tend to agree. Maybe there's more to the story, but the loan appeared to be a standard 30-year Mortgage, and for whatever reason, she was missing payments. It doesn't sound like a case of predatory lending, interest-only loans or a bad ARM. And the loan amount wasn't something obscene, but $42K.

In this case, It was probably more of an issue of oversight by an elderly woman living alone, than of a bank taking advantage of a situation. Don't really agree with Congress invoking her name in relation to the current bank crisis, either. I think that maybe it was mishandled more by the Sheriff's department. 100 notices left at the door and nobody every bothered to talk to her? There appears to be a failure of communication there.

10-05-08, 08:22 AM	#1
CarpMan BassFishin.Com Veteran Member Join Date: Jan 2006 Posts: 676	May God bless Miss Addie! It's a sad day in our Country when our elders believe there is no hope for them. I sure hope she pulls through this. She has my Prayers.//www.cnn.com/2008/US/10/03/eviction.suicide.attempt/index.html

10-05-08, 09:11 AM	#2
Bo Dale James Jr. BassFishin.Com Veteran Member Join Date: May 2006 Location: Jerseyville,IL Posts: 596	Well that is certainly unfortunate, I assume she had to get a loan to pay expenses. She was 86 when Countrywide lent her the money and opened her 11K line of credit. That in and of it's self seems predatory. I'm sure she is on a fixed income..I do feel bad for her. I imagine we all can end up like her if we out live our savings. __________________ *Got time to breathe, got time to fish!*

10-05-08, 11:06 AM	#3
Jim80 BassFishin.Com Super Veteran Join Date: Apr 2008 Location: Thomaston CT Posts: 3,862	That really is a shame why would they give her a 30 year loan at that age . at least if she recovers they will let her keep the house and forgive the debt . Jim __________________ In memory of Zooker 1/11/73-7/2/2010. You will be sorely missed and never forgotten.

10-06-08, 12:14 AM	#4
cassidyta BassFishin.Com Super Veteran Join Date: Jul 2008 Location: San Diego, CA Posts: 2,928	I have mixed emotions on this one. I hope she does well, but I fear that people will see suicide, or at least serious bodily injury as a way to get out of the mortgage. Please don't think I am saying she should be kicked out. I just worry about the precident set by saying she put two rounds in her chest so we will forgive the loan. __________________ If you have ever wondered if you should retie, the answer is yes.

10-06-08, 11:45 AM	#5
robertmee BassFishin.Com Active Member Join Date: Jul 2008 Posts: 180	I hate to be heartless, but I tend to agree. Maybe there's more to the story, but the loan appeared to be a standard 30-year Mortgage, and for whatever reason, she was missing payments. It doesn't sound like a case of predatory lending, interest-only loans or a bad ARM. And the loan amount wasn't something obscene, but $42K. In this case, It was probably more of an issue of oversight by an elderly woman living alone, than of a bank taking advantage of a situation. Don't really agree with Congress invoking her name in relation to the current bank crisis, either. I think that maybe it was mishandled more by the Sheriff's department. 100 notices left at the door and nobody every bothered to talk to her? There appears to be a failure of communication there.

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)