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Woman shoots herself over foreclosure

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posted on Oct, 3 2008 @ 05:49 PM
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Woman shoots herself over foreclosure


www.cnn.com

Addie Polk, 90, of Akron, Ohio, became a symbol of the nation's home mortgage crisis when she was hospitalized after shooting herself at least twice in the upper body Wednesday afternoon.

On Friday, Fannie Mae spokesman Brian Faith said the mortgage association had decided to halt action against Polk and sign the property "outright" to her.

"We're going to forgive whatever outstanding balance she had on the loan and give her the house," Faith said. "Given the circumstances, we think it's appropriate."
(visit the link for the full news article)




posted on Oct, 3 2008 @ 05:49 PM
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Wow it's amazing what things are coming to in this country. Poor lady. I can't believe that They would even attempt to foreclose on a 90 year olds house. Seriously are they that hungry for money. At least they forgave her debt. I guess that this is just the start of what is to come if things get even worse.

www.cnn.com
(visit the link for the full news article)



posted on Oct, 3 2008 @ 05:58 PM
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I rolled my eyes when I read the title of your thread, but once I opened it and read that the woman is 90 years old.....it just breaks my heart.
It isn't as though a 90 year old woman can get a job, or two, so what was she supposed to do?

I think you are right-- I think this has only just begun.



posted on Oct, 3 2008 @ 06:04 PM
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Already been posted here.

Fannie Mae forgives loan for woman who shot herself

It's even on the first page.



posted on Oct, 3 2008 @ 06:07 PM
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Originally posted by Sublime620
Already been posted here.

Fannie Mae forgives loan for woman who shot herself

It's even on the first page.


My bad didn't see that.



posted on Oct, 3 2008 @ 06:15 PM
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there will be copycats trying to keep their houses by hurting theirselves now, it will get worse and worse methinks. sigh, this is saddening.



posted on Oct, 3 2008 @ 06:23 PM
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reply to post by MJND1990
 


Your response doesnt make sense-thats what happens when you borrow money-the lender expects you to pay it back-or why would they give it to you in the first place.

[edit on 3-10-2008 by Rinorino2]



posted on Oct, 3 2008 @ 06:29 PM
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This sort of thing will bankrupt the place-an entire Arab village will probably die for 'Poor old Ms Polk' -because foreign plunder will be the only way to pay for this-there is only so many Ms Polks that can have their debt forgiven. And this will spark massive copycat incidents. At the risk of sounded a tad heartless-Ms Polk proabably didnt think about any of this when she was getting her nails and perm done WITH OPM.
Remember this-those that spend money they don't have are having themselves a good time with the money SAVED by other Americans!



posted on Oct, 3 2008 @ 07:06 PM
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reply to post by MJND1990
 


Or to put it simply-that money is other peoples savings and we are about to see possibly the biggest rewarding of the irresponsible segment of society in history. Those that borrowed and blew the cash on the latest cars and toys, those that knowingly overborrowed and then didnt bother paying the debts, those that said their are better things to do with cash than pay off a house-better wait till the govt bails us-are going to get a massive gift courtesy of the suckers that didnt overextend themselves and saved and payed their mortgages.
My eyes are dry for Ms Polk, my tears will be used up for the millions that did without and behaved sensibly.

[edit on 3-10-2008 by Rinorino2]

[edit on 3-10-2008 by Rinorino2]



posted on Oct, 3 2008 @ 09:21 PM
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Originally posted by Rinorino2
reply to post by MJND1990
 


Or to put it simply-that money is other peoples savings and we are about to see possibly the biggest rewarding of the irresponsible segment of society in history. Those that borrowed and blew the cash on the latest cars and toys, those that knowingly overborrowed and then didnt bother paying the debts, those that said their are better things to do with cash than pay off a house-better wait till the govt bails us-are going to get a massive gift courtesy of the suckers that didnt overextend themselves and saved and payed their mortgages.
My eyes are dry for Ms Polk, my tears will be used up for the millions that did without and behaved sensibly.

[edit on 3-10-2008 by Rinorino2]

[edit on 3-10-2008 by Rinorino2]

yes i agree with most of that. i just wanted to clarify that since i did say it was saddening. what i meant was the copycat incidents to follow and the people that will have to pay extra to cover other peoples slack. on the same hand, i do sympathize with a lot of elderly folk i see that do not understand fully the mess they are getting into.see in some cases i know of personally, people took loans 10 years ago that they could afford, and never had trouble making a payment until the last 2 or 3 years, do to the decline of the economy. now i am sensible and have better sense than to take a by-the-seat-of-my-pants loan that i will have to closely budget or else default, i leave room for error, because if you know me, it is protocol to leave room for error.
but unfortunately there are a lot of people defaulting now who were not getting perms and such, they had just enough in their social security to pay a morgage and grocery bills, and with the rise of prices, they are falling short. i don't know the solution, what are the schools of thought on how to fix this? anyone? i'm just not very knowlegable on the subject.but i do wish to say that no matter how it happened, i should not have to pay more taxes to help them, period. isn't that pretty much socialism? sigh. it's a cold world, i am not sure how to prepare my 7 year old son for what is waiting.



posted on Oct, 3 2008 @ 10:18 PM
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By forgiving this loan Fannie Mae has just set itself up for huge lawsuits.

I'm waiting for the next person to shoot themself, ask Fannie to forgive their mortage, Fannie says no, LAWSUIT!

How can anyone condone this action? Take the old ladies home away, and put her in the old folks home, or an institution....for her own good.



posted on Oct, 3 2008 @ 10:23 PM
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reply to post by RRconservative
 


No they haven't. All they did was add Goodwill to their name. It makes them look compassionate and moral. When companies do acts like this, it actually makes them worth more (it's called Goodwill and it actually shows up on financial statements).

Come on! Any good conservative should know that!

*Edit: Here's some more info:

Goodwill

Goodwill as a term was originally used to reflect the fact that an ongoing business had some "intrinsic value" beyond its assets, such as the reputation the firm enjoyed with its clients. Likewise, a buyer may agree to "overpay" because he sees potential synergy with his own business. The accounting sense of goodwill followed as a plausible explanation of why a firm sells for more than the value of its net assets.


Actions like forgiving a debt add to the goodwill of a company by improving its image.

[edit on 3-10-2008 by Sublime620]



posted on Oct, 3 2008 @ 10:31 PM
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reply to post by Enigma Publius
 


Lets get past the media rhetoric and lies-it isn't that easy to get a loan-its a fair bit of paperwork and no one gets one shoved down their throats-many, many people get declined for loans and then shop for another lender.



posted on Oct, 6 2008 @ 08:37 AM
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Just when I think I have no human emotions left -other than anger and hatred -I read this and cry like a baby -the worst thing is that she survived -Now she will be looking at a minimum of $100,000.00 medical bill.Evey time I have tried to die I wake up and come out of the hospital and Social Security withholds another $50.00 a month for 10 years -i hate every portion of this planet .



posted on Oct, 8 2008 @ 05:44 PM
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Originally posted by Anonymous ATS

Just when I think I have no human emotions left -other than anger and hatred -I read this and cry like a baby -the worst thing is that she survived -Now she will be looking at a minimum of $100,000.00 medical bill.Evey time I have tried to die I wake up and come out of the hospital and Social Security withholds another $50.00 a month for 10 years -i hate every portion of this planet .


The hospital who treated this lady will likely redistribute her costs into the
system and insurance policy owners (i.e. individual taxpayers and
businesses) will end up paying the $100,000 through increased premiums.
Happens all the time for the poorest un-insureds and illegals.



posted on Oct, 8 2008 @ 06:40 PM
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reply to post by carewemust
 


Which is why socialized health care - and even McCain's tax cut rebate for health care - really don't add to the cost. Either way, you are paying for it. Socialized you pay in taxes, the rebate is paid in taxes, and the current system is paid through high insurance premiums.

So, that's a great point you brought up, and I'm glad to see someone else is paying attention to it.


[edit on 8-10-2008 by Sublime620]



posted on Oct, 8 2008 @ 09:01 PM
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reply to post by Sublime620
 


Thanks Sublime620. Since my career is Insurance, I see what happens
with healthcare from the inside out. You're 100% in your assessment
of the situation. But tell me, do you think that healthcare run by the
government would raise costs to the taxpayers? It seems that every
time the government takes an active role in what once was a private
enterprise, the red-tape & bureaucratic bloat make everything very
inefficient. We don't want that in life & death situations. I like the
idea of the government simply giving money to people to help them
buy their own health insurance and then getting out of the way.
-cwm



posted on Oct, 9 2008 @ 04:03 AM
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Originally posted by carewemust
reply to post by Sublime620
 


Thanks Sublime620. Since my career is Insurance, I see what happens
with healthcare from the inside out. You're 100% in your assessment
of the situation. But tell me, do you think that healthcare run by the
government would raise costs to the taxpayers? It seems that every
time the government takes an active role in what once was a private
enterprise, the red-tape & bureaucratic bloat make everything very
inefficient. We don't want that in life & death situations. I like the
idea of the government simply giving money to people to help them
buy their own health insurance and then getting out of the way.
-cwm


I live and raise a family in a country (Australia) with socialised healthcare that can be supplimented with private insurance for added benefits-I thank God for it and can't imagine what it must be like for Americans that can't afford healthcare.

[edit on 9-10-2008 by Rinorino2]



posted on Oct, 9 2008 @ 01:20 PM
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reply to post by carewemust
 


Sorry. I put off answering this question because it's difficult to answer. Bureaucrats do tend to make everything they touch bloated.

In theory, it should be possible. Someone needs to regulate its budget and give oversight on any legislation passed. Much like the rest of the entire US budget has, it would end up bloated and wasteful if not watched carefully.

Like John Lennon, maybe I am a dreamer, but I'll damned if I don't think it's possible to do something right. The US budget is bloated from greed. Insurance rates are high because of greed (this is a particularly vicious cycle because as the prices go up, more people can't afford the insurance, causing more debt, and the price to go up more).

Eventually we need to bite the bullet and restructure this country. The question isn't if, it's when.

Hope I answered it for you, but being a part of the industry, I am sure you are far more suited to answer it than I.

[edit on 9-10-2008 by Sublime620]



posted on Oct, 9 2008 @ 01:53 PM
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reply to post by Sublime620
 


Sublime620, I can't add anything except to say that this woman who
shot herself will have her $100,000 medical bills paid for by individuals
and companies that own health insurance. If this was a socialized
system, every citizen would be paying through increased taxes.

Actually the best system for healthcare in my opinion, would be for
the government to mandate that insurance companies accept everyone
with NO pre-existing conditions exclusions, and to pay a significant
portion of the premium. A tax-credit like McCain is proposing would not
work for most families because they wouldn't have $1,000 a month to
pay each month and then have to wait until June of each year to get
half of it back with their annual tax refund.

If a person couldn't afford to pay for half of their healthcare, a program
like what Senator Obama proposes would be available. We have one
like it in Illinois. Blue Cross is the underwriting company, but because
it is administered and regulated by the Government, fewer doctors are
participating in the network. They are owed $98 million and the state
is 8 months behind in paying the claims. Physicans can't survive with
a flood of these "AllFamily" patients, so they're cutting back on the
number they accept per month, or leaving the program entirely.
-cwm



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