Questioning stupidity
This story about a 90 year old woman who tried to kill herself after foreclosure has been getting some notice.
Ok, I'm reading this more detailed article about it and I read this:
" 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."
Now, what type of company would give a 30 year mortgage approval to an 86 year old woman? Do I have to answer that?
Fannie Mae has forgiven the loan. Do I have to comment on that?
Ok, I'm reading this more detailed article about it and I read this:
" 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."
Now, what type of company would give a 30 year mortgage approval to an 86 year old woman? Do I have to answer that?
Fannie Mae has forgiven the loan. Do I have to comment on that?