Fannie Mae forgives loan for woman who shot herself

Fannie Mae forgives loan for woman who shot herself

www.cnn.com

Addie Polk 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)

Problem solved for millions, Really! What is Fannie supporting here. I can't see how this is the right message to send to those in foreclosure. If it happens again will they be charged with manslaughter?

This to me is a really bad trend to offer to those in financial trouble. Maybe if i go and get a DUI i wont have to make next months payment.

I feel bad for the lady but come on.

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

I actually think it shows that they have heart. It's good PR, and mortgage companies need that right now.

How bad does the gunshot have to be? A wingshot, a footshot? I'm locking and loading. Smoke and mirrors and public perception.

They are only doing it because of all the negative media attention it brought upon them. It is a PR stunt aimed at regaining some sort of public trust.

That being said the poor lady deserves everything she receives from them and more. Fancy evicting a 90 year old, bloody disgraceful if you ask me.

This is a sad story:

Fannie Mae said it will set aside the loan of a woman who shot herself as sheriff's deputies tried to evict her from her foreclosed home.

She was desperate, and being evicted by the Sheriff.

Deputies had tried to serve Polk's eviction notice more than 30 times before Wednesday's incident, Sommerville said. She never came to the door, but the notes the deputies left would always disappear, so they knew she was inside and ambulatory,

Are we doing what we can because its our right, or are we doing it because its the right thing to do?

In this, the the right thing was done.

Peace

I'm not trying to show no heart to the lady, i'm glad she gets to stay. My concern is the statement it make to everyone else. As stated above is it just a wing shot, I owe 500K on my house, thats worth a toe and injured shoulder. I just think it is a horrible presedent to set.

This is lame. All I have to do is shoot myself to get out from under this upsidown mortgage? Jeez.

What a lame attempt at good PR or a really misguided gesture. We shouldn't reward people for shooting themselves! And, I'm willing to bet that more than a few folks have actually committed suicide due to their unmanageable debt, rising ARMS, and the poor housing market. Are all of those loans going to get a free pass too?

@@.

Look at it form this point of view. If it had have been a person younger than say 70ish they may not have offered this. The very fact that she was 90 years old and most likely incapable of finding another place to live was probably the factor in deciding whether to do this or not. That and the PR.....

"Addie Polk of Akron, Ohio, became a symbol of the nation's home mortgage crisis"

And now, this symbol's been neutralized..

I wonder how many thousands have been evicted of late, who is 'forgiving' all their debts ? Collectively, they're symbols, too, but none as eyecatching as this example I guess.

Besides, with the bail-out bill having been steamrollered through, I reckon they have more then enough dough to do this.. isn't it sweet, playing Santa Claus with other people's money?

(Not saying her being cleared of debt is bad, just that this is way unsufficient to alleviate the dire straits of the community at large imho.

Originally posted by Kryties
Look at it form this point of view. If it had have been a person younger than say 70ish they may not have offered this. The very fact that she was 90 years old and most likely incapable of finding another place to live was probably the factor in deciding whether to do this or not. That and the PR.....

I agree but thats the issue, at what age will shooting yourself get you a free pass. Vague right offs (right after the bailout no less) will cause more issues than solve. But hey its not Fannie paying for it, it's us. Pat yourselfs on the back.

I hope you all know that I was being extremely sarcastic. The fact is their are 10,000's of thousand of Mrs Polks around the country. This one just made headlines.