Unbelievable.  The really sad thing is how many others are going to try that avenue?

Take care.

I am worried about what kind of message this sends.  We are in dangerous times and the only way to remain sane is to look to the positive.  Find a positive and hold on.

That is simply unbelievable.  Can I borrow your gun?

Ted

My 1st ? is why would a 90 yr old woman owe any mortgage on her house?  sounds unreal.

Simon, I am glad this lady wasn't successful in her attempt to take her life.  Such a sad story.

Cindy - what message does Fannie Mae thinks it is sending? This is clealy the message - intended or not.

Jane - I agree with you entirely

Ted - I'm trying to borrow one myself!

Marisol - Polk and her husband bought the home in 1970.  She became the home's sole owner in 1995 when her husband died, then took out a mortgage loan in 1997 and refinanced several times, court and property records show. The last time was in 2004. I'm not sure why you think I would make this up. It's real.

So, If I shoot my self in the hip or foot where I am guaranteed I won't get killed Do I still win the house?

What the heck are they doing? They just gave all these distressed home owners an idea. Its OK go ahead shoot your self. Why not we will forgive you

No Simon, I'm sure those are the facts.  I'm just saying its so unreal that this has happened.

If I stub my toe can I skip a payment?

All of this is getting so absurd.  I don't know whether to laugh or cry at the state of things today.

finally, some certainty in an uncertain time.  sory... that is morbid.

chris the implementer

Sad this is ... On another note, I know Fannie has had beyond its measure of bad press, bad times, bad decisions .... yada yada ... but really, forgiving a 90-year old's mortgae outright?  Give her a free reverse mortgage or something ... at least maybe you and I won't end up paying for that in the end like we will now. 

I'll have to consider that as I negotiate these short sales.  Please mr. bank, forgive us this extra 5,000 to make this deal work or we'll shoot ourselves?

I am also worried about the message it sends, though glad that Ms. Polk is getting better and keeping her home. 

The fact that a 90yr old can refi is sad too, though I understand the "reasoning" being that they can't discriminate based on age.... I recently had an 87yo qualify for a 30 yr mortgage.

Simon,

I have an elderly mother...I could not imagine HER going through this...can you imagine how "DESPERATE" this 90 year old woman must have felt?! Feeling broke, no way out, nothing to show for her years and years of hard work...It just saddens me that she felt she had to do this to herself. Was this predatory lending? Maybe not...we do not know the "circumstances" of her loan. Or even know what was even going through her mind...however the "message" that is being sent to everyone in "despair" is absolutely frightening...

Nelya - I'd love to be able tyo answer your question.

Rob - I don't think so, although I believe they do understand the meaning of the words "shoot yourself in the foot".

Bob - I'm trying to laugh!

They say "WE" but, it's YOUR money!  bassits!

Simon - I read this story and was a bit dumbfounded by the fact she (at 88) got a 46k loan in 2006 and now has none of the money or no means of paying it back.  It's truly a sad story and something doesn't seem right and yes, we will definitely see copy cats.  The world is upside down right now...

Ummmm, ok, a snubbed toe...1 payment forgiven...not bad...how about "Road Rage Foreclosure Syndrome"?  Could I crash a brand new Lexus into a tree and get a new car with no loan and mortgage foregiveness on the route cause?  no pun

I see a new industry cranking up here.  Doctor assisted shooting so you don't hit any vital organs for Foreclosure Syndrome, new Shrink counseling, etc.

Okay, the question is, if you wear a bullet proof vest when you do this, will they still give you a break and forgive your debt?  Hmmmmm....

Government intervention once again strikes at the very heart of the notion of how are they going to handle health care? Obama is promising everyone is going to have health care. Will he say everyone who is sick doesn't have to pay for insurance?

Free Health Care!  YES...our system will be as good as Canada then, right?

Susan...I think a bullet proof vest would count...it's the "thought" that should count.

Eh, at least Canada knows how to tax people ...15% sales tax and 60% income tax for all those socialist who love socialized medicine.

Simon,

You are right. I am afraid I am a better shooter, I might only need one bullet...

Good for the lady, now she can live another 90 years worry free. And I am far from being confident I would ever make it to 90

Simon, when I read about this, I was so saddened because I know a lady in her 80s who may lose her house of 30 years. Somewhere down the road, someone convinced her to refinance her house almost two years ago in order to buy a four-plex where she thought members of her family could live. The loan was for $960K at 8.37%  (yep, you read that right).

But she is behind her payments, and she has already received a notice of default. Her house was advertised for sale, and according to her, without her knowledge. The listing agent said she is doing everything she can to provide guidance --- loan modification, reinstatement, etc --- but the lady is exhibiting early signs of Alzheimer's and seems to have forgotten things she has done (like signing a listing document!). Her property is going to be auctioned early November.

I can't believe anyone would approve this kind of loan to a woman in her 80s. It almost sounds like elder abuse. Did she really understand what she was doing?

Simon - this seems so unbelievable - if this woman is suicidal shouldn't the government provide housing in a protected and locked institution? That is where they take you when you attempt suicide! They do not send you home alone.

I just think someone should have continued making the payments

that is just crazy!!

I'm scratching my head at the craziness we are seeing in the world right now. 

and this is just the beginning of the stories we will be hearing about.....

I'm going ot get a gun for my personal use as well...I don't want to pay my mortgage either.

This is crazy stuff.  It's only going to get weirder though, watch and see.

You guys aretoo funny. But this is a strange time for sure. I can't believe my ears.