Banks Threaten Elderly Veterans With Foreclosure
San Francisco – Robert Moses is 92, an African American and a World War II Navy veteran.
Don Baird is a couple of weeks shy of his 90th birthday, is scheduled for heart surgery next week, and is also a World War II veteran.
Aside from being former servicemen, both men also share one other thing: they are about to lose the homes they owned, each for more than four decades, to foreclosure.
“We were granted loans we should not have been given because we were not financially capable,” asserted Baird’s wife, Tina, 81, a former teacher.
Chase has set the foreclosure date on their ranch-style home in Redwood City, Calif., for September 24.
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This is just what I fear is going to happen more and more with inflation, new Obamacare with it’s heightened costs and while more of these Option Arms and Adjustable rate mortgages come to reset. Yes, it’s a travesty that we had unscrupulous mortgage brokers out there in the boom whose only directive was greed! I am entering that “elderly” period and honestly it is not a welcoming age! Everyday I face the fear of losing my income and then what??? As a mortgage broker who has always maintained a modest income (not like the over-powering greedy) but even the last 5 years have seen a dramatic drop. People are losing faith in their government, in their elected officials and in the face of social security going broke! Four years of Obama and no change and the other candidate is not much better. Neither one lives in reality nor a participant in MY world. I say vote for Paul – I am! At least he supports a revolution!
This is perfect example of predators going into neighborhoods, assuring old people that they could use their homes as banks, only to steal their houses. There is no response from the Obama administration about this, non-at-all, foreclosures must be allowed to continue. Indeed, they fought in one war, only to see another war waged by big finance that steals everything they own right out from under them.