And here we all heard how this housing mortgage debacle is a phenomenon of
the little guy. So why isn't this liberal democrat paying here mortgage.
The
lat time I checked here salary isn't cut & is lucrative.
So what we have here is that even congressional dems that are going to
vote
to bail themselves out on the backs of other peoples taxes- how
convenient......
http://latimesblogs.latimes.com/laland/2008/05/re****t-californ.html
Update: California Rep. Laura Richardson today denied a published re****t
that her $535,000 Sacramento home had slipped into foreclosure, saying she
had renegotiated her loan to keep the home.
The house "... is not in foreclosure and has NOT been seized by the bank,"
Richardson, a Democrat from Long Beach, said in a statement. "I have
worked
with my lender to complete a loan modification and have renegotiated the
terms of the agreement -- with no special provisions." (Richardson's
entire
statement is at the bottom of this article).
Earlier, Capitol Weekly re****ted that Richardson walked away from the
mortgage on her $535,000 Sacramento home, letting the house slip into
foreclosure and disrepair less than two years after she bought it with no
money down.
"While being elevated to Congress in a 2007 special election, Richardson
apparently stopped making payments on her new Sacramento home, and
eventually walked away from it, leaving nearly $600,000 in unpaid loans
and
fees," the publication re****ted.
Richardson declined to comment for the Capitol Weekly story. Her office
issued a written statement Wednesday afternoon.
Capitol Weekly, citing tax records at the Sacramento County *****sor's
office, re****ts "... in January 2007, Richardson took out a mortgage for
the
entire sale price of the house -- $535,000. The mortgage amount was equal
to
the sale price of the home, meaning she was able to buy the house without
a
down payment, even though the housing market was beginning to turn. A
March
19, 2008 notice of trustee's sale indicates that the unpaid balance of
Richardson's loan, which is held by Wa****ngton Mutual, is more than
$578,000 -- $40,000 more than the original mortgage."
In addition to 100% financing on the home itself, the re****t quotes the
woman who sold the house to Richardson as saying she also gave Richardson
$15,000 toward closing costs.
The weekly re****ts that Richardson's residence quickly became an eyesore,
angering neighbors. The re****t says she recused herself on two key House
votes on government efforts to address the foreclosure crisis.
Richardson's statement, however, said she did not recuse herself from
those
votes, and was instead absent from the House.
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