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Archive for Monday, October 6, 2008

Mortgage forgiven for woman who shot self

October 6, 2008

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— Mortgage finance company Fannie Mae said it is forgiving the mortgage debt of a 90-year-old woman who shot herself in the chest as sheriff's deputies attempted to evict her.

Addie Polk's plight was cited by Rep. Dennis Kucinich, D-Ohio, on Friday before the House voted to approve the $700 billion financial rescue package. Kucinich voted against the plan.

Fannie Mae announced later Friday that it would dismiss its foreclosure action, forgive Polk's mortgage and allow her to return to the Akron home where she's lived since 1970.

"Just given the circumstances, we think it's appropriate," Fannie Mae spokesman Brian Faith said, citing Kucinich's statement and news reports.

Polk remained in Akron General Medical Center and was expected to recover from chest wounds suffered last week.

Comments

jmadison 6 years, 2 months ago

Countrywide Mortgage was the company that initiated the foreclosure prior to this mortgage being sold to Fannie Mae.I guess they needed the money to loan out at less than market rates to Sen Dodd.

beatrice 6 years, 2 months ago

She lived in the home for 38 years. It should be paid off by now. Obviously this is a second or third or more mortgage, not the original amount owed. She took money out against the equity of the home and should pay it back despite her age. Yes, I have empathy for the woman in this sad story, but I don't think her debts should be ignored just because she shot herself. How would others react if it were a 52 year old male instead? This is just the beginning folks.

ksdivakat 6 years, 2 months ago

This sounds like a typical remark from someone who supports OJ....Karma man...Karma

kansas778 6 years, 2 months ago

Ah, now I know how to get out of my mortgage.

mom_of_three 6 years, 2 months ago

Oh, I found the information on cnn, if anyone wants to know."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. Over the next couple of years, Polk missed payments on the 101-year-old home that she and her late husband purchased in 1970. In 2007, Fannie Mae assumed the mortgage and later filed for foreclosure. "

mom_of_three 6 years, 2 months ago

It would be interesting to know how much was owed on the home and how long was left to pay on the mortgage.

ksdivakat 6 years, 2 months ago

But keep in mind that this women probably had a husband who passed and that was their home together, not everyone is gonna try it because that probably will never happen again, however it was newsworthy and thats why they told the story, I agree, I hope she lives so long that the house aint worth 10cents. When you have lived to be 90 and in your home for 38 years, and they try to take it, then come and tell me how you feel about it!Go granny! get well soon!

ksdivakat 6 years, 2 months ago

I cant imagine being 90 yrs old and living in my house for 30plus years to be thrown out on my ear?? Think about if this was your grandmother or mother, we all know that there are lending institutions who take advantage of older people who may not realize the ramifications of their signature on a piece of paper.Lets give the poor old woman a break and be thankful that she didnt succeed and hope that she will get some help, both financially and mentally.

jaywalker 6 years, 2 months ago

Thought this was a joke when I heard it on the news, don't know what to say other than......Swell. Let's see how many copycat this. And will we need to obtain 'suicide insurance' when we sign a mortgage from now on? Feel sorry for the lady, desperation is apparent.

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