A rare time I'm glad that a process of capitalism failed.
I'm a capitalist. I have no problem with people making as much money as THEY SEE FIT to make. I only have a problem when a person or company takes advantage of others in order to do so. Sometimes, however money isn't everything. What if you were a sheriff deputy or a house mover, and you had to evict a person out of their home, because the bank who holds the mortgage hired you to do so? You might say to yourself that you feel bad for the people, but you are just doing your job right? Any other time, I probably would think the exact same thing but in this case, this wasn't one of those times. Imagine if the huge mega Deutsche Bank hired you to evict a 103 year old woman and her 83 year old daughter, could you go through with it? Sometimes business isn't just business as usual. In this case, the sheriff deputies and movers felt the same way.
If the bank was a local bank instead of the colossal Deutsche Bank, I believe this issue would have been resolved a long time ago with the daughter and mother being allowed to stay in their home. Megabanks have received a lot of negative attention over the past few years. A story like this one of a mega bank wanting to evict a 103 and 83 year old woman out on the streets really doesn't help their public relations image.
posted by Alpha Conservative Male at 11:42 AM
5 Comments:
Been there, done that-Got the t-shirt!
It's easier to screw people over from a distance!
Having to get your hands dirty "up-close" is a very different story!
Throw the bums out!
No I'm kidding! Let them live out the rest of their lives. My goodness.
That lady has seen enough B.S. in her life time. She's probably been through it all.
Lisa's right. Screwing people long distance is clean. They are simply a file number. But up close and personal, is a different story.
This happens much to often...
Here in Detroit.
Why is their a Mortgage on a house she have been living in for 53 years? The house should have been paid for long ago and repairs made out of pocket.
kah;"Why is their a Mortgage on a house she have been living in for 53 years? The house should have been paid for long ago and repairs made out of pocket".
It's called predatory lending.
You might not be aware of it kah, but most people over 100 years of age aren't gainfully employed. It would also guess that this lady and her daughter were living on fixed incomes, which probably kept them somewhere below the level of poverty.
Without knowing her entire story, I would bet that 53 years ago she had a husband, and the both them did what they needed to do to purchase the home. (mortgage, land contract, saved to purchase, whatever...)
Perhaps during the latter years, due to her "old age" and fixed income, the house fell into disrepair. However theres one thing you can be certain of. That is, the property is worth more than it was sold for 53 years ago!
Keeping a long story short... enter the "predatory lender." The article I linked to expalins how it's done.
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