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Consumer Law

: Alabama Consumer Blog

A Tragic Tale Of A Mortgage Loan That Should Never Have Been And The Devastation It Caused A Family

By M. Stan Herring

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Donna St. George of the Washington Post has a tragic story (with a slight happy ending) about a woman who made $15,000 a year being given a loan for a $700,000 house with over $5000 a month payments.

The story contains: foreclosure, fraud, ignoring warnings, promises, dreams of wealth, hitting rock bottom, and more.

I don't want to say any more about it - just read this story. The writing is excellent - the story is compelling - and you will get a taste for what the real estate boom (aided by or caused by fraud) did and is doing to real people.

You can also sign up for our free email newsletter sent out every Thursday morning - we cover topics such as the one in this post. We would love to include you! Just fill out the form below:

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Full post as published by Alabama Consumer Blog on December 07, 2009 (boomark / email).

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