90-Year Old Woman Shoots Self Inside Foreclosed Home

Discussion in 'Up to the Minute' started by Only4Justice, Oct 3, 2008.

  1. Only4Justice

    Only4Justice Member

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    http://www.cnn.com/2008/US/10/03/eviction.suicide.attempt/index.html

    ~snip~A 90-year-old Akron, Ohio, woman who shot herself as sheriff's deputies tried to evict her from her foreclosed home became a symbol of the nation's home mortgage crisis Friday.

    "This bill does nothing for the Addie Polks of the world," Kucinich said after telling her story. "This bill fails to address the fact that millions of homeowners are facing foreclosure, are facing the loss of their home. This bill will take care of Wall Street, and the market may go up for a few days, but democracy is going downhill."
    ~snip

    This REALLY pisses me OFF.....Here the government is saving Wall Street, but we can't even help our own people !! :mad:
     
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  3. Linda7NJ

    Linda7NJ New Member

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    This story broke my heart....I'm glad she'll survive and I sure hope she gets to move back home
     
  4. Vegas Bride

    Vegas Bride New Member

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    At her age, I'm just wondering if there hasn't been someone in her life who had been taking advantage of her financially? Why would she have needed to take a mortgage out on her house when she was in her 80's, at should have been paid for by then, plus she also took out a line of credit. Poor woman, from the article it does sound like she'll get some help now, I hope she's able to live her last years in peace but now along with her mortgage problems, she'll have a lot of medical bills also and since her gunshot was deliberate, will it affect any medical coverage?

    VB
     
  5. Cubby

    Cubby fly the W!

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    This really pisses me off too. How often do 86 year olds NEED a mortgage? Most 86 year olds have a home PAID for, are moving in with children if they need assistance, or into an assisted living facility of some sort. They are NOT moving alone, into a two story SF home. IF anything they have lived there and MIGHT get a reverse mortgage.

    WTF was the lender that prompted her into believing she NEEDED a mortgage AND a line of credit. I hope the LO and the broker are investiged. There was SOOOO damned much predatory lending, it's sick. Of course the Republicans are blaming the people, but what they did NOT see, like I did as a realtor were lenders CREATING w-2's for people and all kinds of other nonsense. Some lenders we RAN from... we knew they were so shiesty.
     
  6. Cubby

    Cubby fly the W!

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    I fully agree. My 6 yr old sons paternal grandmother is 87 and has been in a nursing home for over a year. Half the time she has no idea who her own son is.... She was ripped off for about 300,000 by some jerk who was her investor. They had documentation of him paying his kids college with HER money. Money her first husband left her when he passed in 1990. At best, I think he got a few months probabation or something and NOTHING back for the seniors ( 7-8 or so) he stole from.
     
  7. Mr. E

    Mr. E New Member

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    I agree that someone must have been taking advantage of this woman. This is so sad. I hope that she survives and is okay.
     
  8. Linda7NJ

    Linda7NJ New Member

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  9. Cubby

    Cubby fly the W!

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  10. CaliKid

    CaliKid Former Member

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    This reminds me of an elderly local widow who owned her home free and clear but was conned by one of those door-to-door swindlers who convinced her she needed vinyl windows, a new roof and her fireplace repaired. They helped her take out a new mortgage for $35,000, and she ended up losing her home because she couldn't make the payments.
     
  11. txsvicki

    txsvicki New Member

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    I wonder if this woman had taken out a second mortgage for equity she had in her home. I really worried about this some years back when they started making these so easy to get for any reason and all these movie stars going on commercials trying to talk people into taking them out.
     
  12. lizzybeth

    lizzybeth New Member

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    Are you talking about a reverse mortgage? I don't think the homeowner HAS to pay anything back on those. It's just that when they pass the home belongs to the lender, they sell it, and IF there is any money left over after the loan is paid off it goes to whoever the homeowner has designated.

    I wonder too who in their right mind gives an 84-yr old woman a second mortgage. My mom, at 70, went to buy a new car and no one would loan her the money. Same thing with my ex-father-in-law when he went to buy a new house.

    I remember reading a story not too long ago about a wife/mom (I think she was in her forties or fifties) killing herself inside the family home on the day it was to be auctioned. She left a note telling her husband and son to take the insurance money and try to keep the house.

    It's really sad and you're right. This 7 billion dollars that the taxpayers on taking on isn't going to help US at all.
     
  13. White Rain

    White Rain New Member

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    This is absolutely heart-breaking.
    If not for my hubby and I knowing our landlord on a friendly basis...before he bought our house, in fact he bought it for us...
    well we would probably be living in a motel and struggling to do that.
    He let us slide on rent/electric bill for 8 months. He just recently started charging 150/wk...but if we can't pay that he is cool with it....that is rent AND electrcity...as long as we attempt to pay something each week he is more than satisfied. $50, $75, anything, he is happy. He is an elderly man who happens to look upon my hubby as a son.
    I see people struggling to keep their places, people who can't and committ suicide...it's so very sad..Alot of people don't have the choices or people to fall on that hubby and I do....I am SO grateful, yet SO sorry for everyone else.
     
  14. Opie

    Opie Active Member

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    Aside from wondering why a mortgage would be needed (not to mention a line of home equity credit) on a house purchased back in 1970, I am wondering how anyone could give a 30-year mortgage to a woman who was in her 80s at the time. Predatory is only one word to describe such a person/company. There are lots of others, but none that can be used here on WS.
     
  15. PrayersForMaura

    PrayersForMaura Help Find Maura Murray

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    My 72-yr-old mom has about 12 credit cards and they are all maxed. I worry about her and hope she doesn't resort to this. :(

    The poor 90-yr-old woman. How sad. I hope she is ok. Prayers to her...
     
  16. AlwaysShocked

    AlwaysShocked Active Member

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    Seniors maxing out credit cards is more common than you would think. I have friends who had to put grandma in her 80's through Chapter 7 bankruptcy recently.
     
  17. athy

    athy Active Member

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    many seniors are on medicare and half to still pay on meds and medicial bills. they don't realize they can go to medicaid and have them cover the parts that medicare doesn't cover. some are too proud to do that. i know when my mom was sick with cancer she had this problem and most of whatever she got from ssi went to her medical expenses until we found this out. it almost broke her.
     
  18. yosande

    yosande ...

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    There's also plenty of predatory family members taking advantage of their elderly grandparents.
    People talking their loved ones into loans to help them, then they walk away, never paying it back, and leaving these people in a bind they never thought would happen. Our country is going down in more ways than one.
    Now if she dies, the family member who may have caused her to get the loan in the first place will inherit the house. Think on that awhile. Plus, what is this saying to the rest of the desperate people? Just shoot yourself and your loan will be forgiven, so at least your wife won't be thrown out of her home of 60 years?
     
  19. mysteriew

    mysteriew A diamond in process

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    Why would she take out mortgages on her home?

    First homes bought in the '70's are needing repair by now.
    Medical care, hospital bills, pharmacy costs, doctor visits are all going up, sometimes to astronomical rates. Insurance is costing more, but covering less. That includes medicare.

    She is probably getting some type of pension/security benefit. But it is probably about a third of what she was making when she retired, twenty years ago. Or even less. Cost of living has shot up since that time. By now she has probably exhausted any savings she had, and may have to live on her credit.


    Social Security and Medicare aren't supposed to be lived on, they are supposed to supplement personal savings/investments. If you listened to Bush a while back, you all are supposed to be investing in the stock market to gain assets to make up the difference.
     
  20. zadari

    zadari New Member

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    i think that is so sad .. :( a person that age shouldnt have to worry about any of thier needs .. i take care of my mom now that she is retired ..
     
  21. Dark Knight

    Dark Knight New Member

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    AP is reporting that her mortgage is being forgiven, so praise the Lord for that!
     

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