News, Fannie Mae forgives loan for woman who shot herself. (recourse, foreclosure)

[JD59]

(CNN) -- Fannie Mae said it will set aside the loan of a woman who shot herself as sheriff's deputies tried to evict her from her foreclosed home.

Fannie Mae forgives loan for woman who shot herself - CNN.com

[sugarmaple]

I remember reading that...it was horrible; that poor family....a friend of mine has a close friend who just killed himself too, two days ago, because he lost everything.

I just wonder why lenders will not help people with more flexibility...and I also wonder do they, the lenders, feel any kind of remorse or something when they learn that someone is at the end of their rope and feels there is no other option. I think, at this time, every lender has a responsibility to work with their customer and help them ... I don't think this is a negotiable issue, I think it needs to be a requirement.

[eastidahomom]

Originally Posted by sugarmaple

I remember reading that...it was horrible; that poor family....a friend of mine has a close friend who just killed himself too, two days ago, because he lost everything.

I just wonder why lenders will not help people with more flexibility...and I also wonder do they, the lenders, feel any kind of remorse or something when they learn that someone is at the end of their rope and feels there is no other option. I think, at this time, every lender has a responsibility to work with their customer and help them ... I don't think this is a negotiable issue, I think it needs to be a requirement.

I totally agree with you. Nobody quite understands what people in that predicament go through. Some bring it on themselves, yes. But losing everything is devastating to a young person much less an elderly person. In this day and age with the economy affecting the middle class to such a degree, it could happen to the vast majority of us. We need to keep that in mind.

It's nice they withdrew the foreclosure on this poor woman. But one would think at the age of 90, probably surviving off SS, they might have had more of a heart prior to her giving up? That's just cold! There is no excuse for taking her home. Hopefully it's not too late and maybe when she does go, it's with the comfort of knowing her home was secure.

Instead of foreclosing on these homes, it would only make good sense to try to create a working arrangement for both parties. It certainly does not help the economy with more and more people feeling there is no recourse but to live off the system. Give them a little hope for the future and they may be surprised at the results they receive.