Home > Blogs > Ohio > Summit County > Akron > Fannie Mae forgives mortgage for woman who shot herself during foreclosure eviction
41,099 views

Ruth @ Trulia's Blog

By Ruth @ Trulia | Mortgage Broker
or Lender in New York, NY

Fannie Mae forgives mortgage for woman who shot herself during foreclosure eviction

When Akron, OH sheriff’s deputies tried to evict Addie Polk from her foreclosed home, the 90 year old woman shot herself twice in the torso. She was taken to Akron General Medical Center where she is in critical condition.

Mrs. Polk and her late husband first purchased the home in 1970. In 2004, she acquired a $45,620 Countrywide Home Loan mortgage and an $11,380 line of credit. Last year, Fannie Mae took over the mortgage. Deputies delivered over 30 foreclosure notices to the home before this incident occurred on Wednesday, October 1.

On Friday, October 3, Fannie Mae announced they would forgive all Mrs. Polk’s outstanding balances. A spokesman said, “Given the circumstances, we think it's appropriate."

I hope this does not become a trend.

Comments

By Ute Ferdig - Atty. Negotiator,  Sat Oct 4 2008, 09:42
Truthfully, I don't think you have to worry too much about this becoming a trend. I am pretty sure the old lady did not shoot herself to prompt this reaction. If anything, it exemplifies the human tragedy and emotional effect this mortgage crisis has all the way down to what we would consider small loan amounts. It's sad that a 90-year old woman does not have anybody to help her to get her out of this crisis. I'd be more concerned if the lender had forgiven Ed McMahon's loans. Luckily Ed was famous enough to catch the attention of the media without putting a gun to himself. Not everybody has a Donald Trump coming to their rescue.

I am not worried about this becoming a trend. I am much more concerned about how the new bailout bill will be implemented and how many unintended adverse effects it may trigger and I am sure that will be the topic of many future blogs.
By Trulia Roger,  Sat Oct 4 2008, 18:34
This is very sad. What's worse is that the medical bills for her treatment might be even more expensive than the forgiven balance. You just can't win. :(
By NonRealtor,  Sun Oct 5 2008, 08:54
90 year olds shouldn't have guns or a drivers license.
By Rgotit,  Sun Oct 5 2008, 10:36
This is so unbelievable! Of all the people who are being hit up the worst it is the elderly and single income homes. The government should be more focused on the well being of people who are in these low income demographics then bailing out the oligopoly that is the United States banking debacle.
By Cindy,  Sun Nov 2 2008, 12:55
THIS ONLY HAPPENED BECAUSE DENNIS KUICINICH WENT TO FREDDIE MAC AND ASKED THEM TO FORGIVE THE LOAN. SHE OWED WAY MORE THAN HER HOME WAS EVEN WORTH. IT IS SAID THAT SHE HAD TO KEEP FINANCING THE HOME THAT WAS PAID OFF WHEN HER HUSBAND DIED. THEY NEVER DID SAY WHAT SHE WAS DOING WITH ALL THAT MONEY. LIVING OFF OF IT I SUSPECT. HER HOME WAS NOT WORTH THE MONEY SHE BORROWED ON IT, SO WHO'S FAULT WAS THAT? CERTAINLY NOT HERS!!!!!!!

POST
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer