"Rep. Laura Richardson says the foreclosure on her Sacramento house was due to a miscommunication. (Scott Smeltzer / Staff Photographer)"
Posted on 05/26/2008 10:59:11 AM PDT by wsjreader
The Richardson mess: She defaulted on three houses, report says U.S. Rep. Laura Richardson was in default this spring on three separate California houses, and lost one to foreclosure, according to a hard-hitting report in today's Daily Breeze. The Daily Breeze's Gene Maddaus: "Rep. Laura Richardson, who lost her Sacramento home in a recent foreclosure auction, has also defaulted on properties in Long Beach and San Pedro, records show." Richardson, a Democrat from Long Beach, has declined to answer detailed questions about her finances, but has blamed her financial woes in part on the distractions caused by her whirlwind political rise, which saw her climb from local politics in Long Beach to the state Legislature in Sacramento and then to Congress in the space of two years. She also has heavy debts from her campaign for Congress in a special election last year. But with a congressional income of nearly $170,000, it is not clear why she failed to make payments on all three properties, and faced potential foreclosure on all of them. The newspaper reports Richardson had fallen behind by $12,400 .
(Excerpt) Read more at latimesblogs.latimes.com ...
Not soap opera material. Interesting but not on the right level.
Sounds like a house flipper got bitten by her investments. That is the luck of the draw.
"Rep. Laura Richardson says the foreclosure on her Sacramento house was due to a miscommunication. (Scott Smeltzer / Staff Photographer)"
I bet she failed to 'communicate' several 'payments' to her mortgage institution (while being paid much, much more than most folks make). No doubt she will vote for any federal 'bailout' of 'financially distressed' homeowners. What a dim-bulb...
Yeah, the graft didn't come in as soon as expected.
Thief,
Liar,
democrat.
‘Nuff said.
A couple of days ago she said her house was not foreclosed upon. Now it’s miscommunication? Sounds like the Clintons’ and their constantly changing “truth”.
She should call Charles Barkley to get some advice on how to handle “miscommunication”.
She’s as big a gambler as Barkley is. Wonder how she voted on that ridiculous housing bailout bill.
My oh my! The freeloader has been busy. Now, it’s people like her that I can’t and won’t feel any sympathy.
The old “Rep.” in the headline trick..... We know it means Representative, but the ignorant public probably thinks it means Republican. You have to go into the article to see she’s a Democrat.
What do you mean “it’s not clear why she failed to make payments on all three properties”?
It’s perfectly clear to me—she expects the taxpayers to make the payments for her. She can claim to be just one of the ignorant minorities who were duped by greedy loan makers.
Taxes are for the little people.
Crooks.
Apparently there has been some miscommunication with the paper of record also. As best I can determine, the NY Slimes hasnt said a word about this story.
WaPo has been on it, although it hasn't given the story the prominence it deserves.
Let a Republican do this, and all hell would break loose.
BTW her US House website says she's African-American but from her picture looks like she could easily ''jump the fence'' as used to be said.
Bless her vapid little heart...if there was ever a definitive “The lights are on, but nobody is home” look, this lady has it.
I’ve never bought a home, but am assuming there is a process that financial institutions have to go through before they can actually foreclose. I’m also assuming that there is a specific period of time involved for each step of the procedure. Can anyone tell me just how long it takes for someone’s house to be foreclosed on in California? I’d like to know just how long Richardson’s period of “miscommunication” was before foreclosure occurred.
This reminds me of the bad checks scandal. I wonder if there are other congressmen/women who have defaulted.
It’s perfectly clear to me—she expects the taxpayers to make the payments for her. She can claim to be just one of the ignorant minorities who were duped by greedy loan makers.
Maybe she's just smart enough to realize that she made 3 bad investments by overpaying for the houses. Since all were more than likely purchased without $ down, why not walk away before the losses are worse? Now that she has a well paying job ($ 170,000/yr. plus anything she can steal from the taxpayers) I'm sure she'll be back to investing in something more lucrative than real estate in no time.
RACISM ALERT!
Yep.
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