fannie mae forgives loan of woman who shot herself

http://www.cnn.com/2008/US/10/03/evi...mpt/index.html

Well, there's a great precedent. How many people are going to try to shoot themselves in a non-fatal area (and maybe mistakenly kill themselves) in order to get their debt forgiven?!

Dumb idea.

They should forgive the debt because she is 90 not because she shot herself.

Originally Posted by RockysJewel They should forgive the debt because she is 90 not because she shot herself.

exactly!

She took out the loan, she should repay it. If she can't then she deserves to be evicted. But there is shame on the lender. She was 86 when they gave her a 30 year mortgage?

Originally Posted by robsterclaw She took out the loan, she should repay it. If she can't then she deserves to be evicted. But there is shame on the lender. She was 86 when they gave her a 30 year mortgage?

No disrespect intended all, but I must agree with robsterclaw. If you take out a loan, you must pay it back. I think were I 86 years old, renting would have been my choice. The lender should have declined this loan.

Yes, when you take out a loan you should repay it, but to me this was clearly them takling advantage of that poor lady, did she really understand at 86 what she was getting into? (Not to say that she couldn't understand because of her age, but it is more than probable that she didn't understand)

They should be ashamed of themselves for approving her loan.

Originally Posted by RockysJewel They should forgive the debt because she is 90 not because she shot herself.

How was she allowed to take out a loan...that is predatory lending..

Not just 86 and taking out a 30 year mortgage, but I read that the mortgage was $45,000 and the house was only appraised at $30,000. The deputies and neighbor said that the house was in bad shape. No repairs had been made in a long time. They couldn't imagine what she used the money for.

Carol

my age 90 I hope I have my house paid for

Originally Posted by bigskwinner my age 90 I hope I have my house paid for

That's what I don't get about the article. It says that she and her late husband had bought the house in 1970. Then it says she took out this huge loan and a line of equity in 2004. So, this had to be a second mortgage somehow?

I know. I mean I fault them for being so ridiculous in this. Yes it is her debt but I cannot imagine tossing a 90 year old out on the streets

Originally Posted by arny How was she allowed to take out a loan...that is predatory lending..

She was the victim of a predatory lender.

Originally Posted by Defenderofthefaith She was the victim of a predatory lender.

Everyone knows predatory lenders don't exist. They're imaginary monsters made up by parents to scare small children into using their piggy banks.

"you'd better start saving up for a house right now or a predatory lender will get you."