Ohio woman, 90, shoots self during eviction; Fannie Mae forgives loan
― J0hn D., Saturday, 4 October 2008 01:41 (seventeen years ago)
I think I'm missing something:
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.
So, an 86 year old took out a 30 year loan?
― csa, Saturday, 4 October 2008 01:51 (seventeen years ago)
yup, people do that all the time. Seriously.
― Office Cat is Eating the Monitor Again (kingfish), Saturday, 4 October 2008 01:54 (seventeen years ago)
surely. my own grandfather as well as MANY other are guilty but then the lender is as guilty for knowing these facts.
― csa, Saturday, 4 October 2008 05:36 (seventeen years ago)
of course - that's rather the point - giving a 30-year loan to an 86-year-old is a way of increasing the debt you're owed while knowing that you won't actually be able to claim it. The "Fannie Mae forgives loan" line is really the kicker here.
― J0hn D., Saturday, 4 October 2008 10:29 (seventeen years ago)
The "Fannie Mae forgives loan" is the reason I just almost spat herbal tea into my keyboard. Laughing, I mean. Though I guess I could have as easily been shocked and appalled enough to spit.
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 10:49 (seventeen years ago)
ew Father kills family and himself, despondent over financial losses
― lil yawne (harbl), Tuesday, 7 October 2008 14:51 (seventeen years ago)