Wasn't Fannie CEO found to have cooked the books to max out his bonus ? What happened ? When does he go on trial ?
Here’s a paragraph in the story...
Legal-aid attorneys challenged the foreclosure on the grounds that the underlying loan was fraudulently made. Fannie Mae is now in the process of setting aside the foreclosure and modifying the loan. “We intend to work with the borrower to reach a resolution that will allow her to remain in the home,” says a spokeswoman.
Good Grief! How STUPID...or GREEDY is she??? 66 isn’t THAT old! what happened to the MONEY SHE GOT????
This is nothing more than a story of someone who borrowed money against her house KNOWING that she could not make the payments. What happened to the money she borrowed? She probably blew the money in Las Vegas and now wants us to feel sorry for her.
Looks like there are a lot fo people in the world that shouldn’t be allowed to run their own financial affairs. To be tricked that easily and not read anything is unbelievable! The reverse mortgage too are questionable. I know that if someone is out of their home for more than 30 days, say in the hospitla and rehab, some have the right to take the home then rather than at death!
In California this is a felony under the recently enacted Elder Abuse statutes. They were enacted to cover almost exactly the same issues in a case in Richmond.
I imagine Barney Frank wouldn't like that as he was hand in glove with the scandal and got lots of cash for his political campaigns from the Fanny and Freddy people.
And I would imagine some in his back pocket.
He and Dodd, Pelosi, and Reid should be on trial along with their cohorts in crime at Fanny May. (I spell it that way because Frank gets a kick out of seeing it in that form)