Quote:
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. "It certainly made our radar screen."
Polk remained in Akron General Medical Center and was expected to recover from chest wounds suffered last week.
She became the home's sole owner in 1995 when her husband died, then took out a mortgage loan in 1997 and refinanced several times, court and property records show.
Countrywide Home Loans filed for foreclosure last year, and Polk's home was sold to Fannie Mae at a sheriff's auction in June. Deputies were to escort Polk from her home Wednesday when gunshots were heard inside.
Polk's longtime neighbor, Robert Dillon, climbed through her window and found her lying in bed bleeding with a gun next to her. He visited Polk in the hospital on Friday.
"She said it was a crazy thing to do, now that she's had time to think about it," Dillon said.
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Mortgage forgiven for woman, 90, who shot herself - BusinessWeek
This and another thread on bank robbery got me thinking wonder how many more things like this we're going to see as foreclosures? I was also thinking who writes a mortgage on someone in their 90's? Even if it was a 15yr loan she'd be at least 105 when it's paid off. With property values dropping this doesn't sound like a smart thing to do. Who owns this loan now? The US tax payers?
Do you think it's right they forgave her mortgage? If I shoot myself will they forgive my mortgage? I'm not willing to take one to the chest but maybe the shoulder or something.
What do you think should happen to her property when she passes away? I mean if the US tax payers now own major stakes in this mortgage should it be sold and the note paid off, if possible?