The Conservative Cave
Current Events => Politics => Topic started by: Rebel on May 24, 2008, 12:44:22 PM
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I first read about this on Boortz (http://boortz.com/nuze/200805/05222008.html) the other day:
Here's his commentary:
GOVERNMENT IDIOT OF THE DAY
There's a newly elected California Congresswoman by the name of Laura Richardson. She's a Democrat. There are now reports that this fine new government bureaucrat has walked away from her home mortgage of $535,000 (http://latimesblogs.latimes.com/laland/2008/05/report-californ.html). Less than two years after buying the house with not one penny down, she just let it slip into foreclosure and wiped her hands clean.
In January of 2007, Richardson took out a mortgage on her Sacramento home for $535,000, the sale price of the house. Not only did she borrow the entire purchase prices, but she somehow talked the person selling the home into giving her an additional $15,000 to cover some of the closing costs.
So .. what does the lovely Ms. Richardson do after she wins a special election to Congress? She walks away from her home and the mortgage. At that point she owes Washington Mutual around $600,000. It seems she hadn't been making payments. So .. she just walks.
Now Laura Richardson is a member – a Democrat member – of the U.S. House of Representatives. It is said that we get the type of government we deserve ... right? What have we done to deserve Laura Richardson?
Now she's responded:
Calif. congresswoman says home sale was improper (http://www.breitbart.com/article.php?id=D90RQ01G0&show_article=1)
May 24 12:53 AM US/Eastern
By ERICA WERNER
Associated Press Writer
WASHINGTON (AP) - California Rep. Laura Richardson claimed Friday that her Sacramento home was sold into foreclosure without her knowledge and contrary to an agreement with her lender.
She said she is like any other American suffering in the mortgage crisis and wants to testify to Congress about her experience as lawmakers craft a foreclosure-prevention bill.
In a lengthy interview Friday night with The Associated Press, the Southern California Democrat struck back against several days of negative publicity over reports she defaulted on her mortgage, allowing the house to be sold at auction.
Richardson, who won her seat in a special election last August, acknowledged turmoil in her life in the months after incumbent Rep. Juanita Millender-McDonald's death in April opened up her Los Angeles- area House seat.
Richardson used her money to finance her campaign and fell behind in mortgage payments. But now, Richardson said, she has renegotiated her loan and promised to fully pay it off, along with $9,000 in delinquent property taxes.
She insisted she's not getting special terms because she's a congresswoman.
"I'm Laura Richardson. I'm an American, I'm a single woman who had four employment changes in less than four months," Richardson said. "I had to figure out just like every other American how I could restructure the obligations that I had with the income I had."
Richardson bought the 1,600-square-foot home in Sacramento's desirable Curtis Park neighborhood for $535,500 in January 2007. It was sold at auction earlier this month to a Sacramento mortgage lender who paid $388,000, according to the Sacramento County Recorder's Office.
A default notice sent to Richardson in March put her unpaid balance at $578,384.
Richardson provided the AP with an April letter, which appears to be from Washington Mutual Home Loans, telling her there was a hold on foreclosure sales on her property until June 4. She also provided an e-mail dated Thursday, which she said was from Washington Mutual, that appeared to acknowledge an agreement "to facilitate the recission of foreclosure sale" but gave no financial details.
A Washington Mutual spokeswoman, Sara Gaugl, told the AP earlier Friday that the company had "not received consent from Ms. Richardson that would allow us to discuss her loan situation." Washington Mutual did not respond to a later request for comment on Richardson's claims.
Not long after getting to Congress, Richardson voted in favor of a mortgage debt forgiveness bill which subsequently became law. She was absent earlier this month for votes on a foreclosure prevention bill, which she said was because of her father's funeral. The House is expected to bring the package back up in June once agreement is reached in the Senate.
Congressional ethics rules don't prevent lawmakers from voting on legislation that might affect them economically. Rather than shy away from voting on mortgage-related bills, Richardson said her experiences could help her craft legislation to make sure others don't experience what she did. For example, she sees a need to add steps to inform property owners before their property can be sold.
"We have to ensure that lenders and lendees have the tools with proper timing to resolve this," she said.
These are the ****ing idiots the dumbmasses are sending to Washington. The bitch is single, buys a 600K home, and has had 4 jobs in 4 months, and instead of doing what "normal" Americans do, I.e., sell the f'n home in a desirable neighborhood and downsize, she walks away. Oh, but it's not HER fault, it's the lender, the market, *, and everyone else BUT her dumb ass. :banghead:
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She said she is like any other American suffering in the mortgage crisis and wants to testify to Congress about her experience as lawmakers craft a foreclosure-prevention bill.
Richardson used her money to finance her campaign and fell behind in mortgage payments.
What the hell does this have to do with "suffering in the motgage crisis"? You didn't make your payments, you stupid arrogant lying C word.
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Judges have to recuse themselves, why not politicians?
BTW--is WaMu going after her salary? They should. Damn sure they would if I tried to walk away from my mortgage or other obligations.
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what's jumps out at me is all the goings on that Democrats seem to be totally in the dark about. Lessee! Obamalama didn't have a clue as to what Pastor Wright was up to for bettern 20 years,and now this fine lady dosen't have a clue that her home was being sold under bankruptcy? She also has no clue that she cannot afford a better than half a million dollar home and she would like to testify so that "we the people" as taxpayers can bail her uneducated azz out?
Okay, it's monday, :rotf: :tongue:at liberals :tongue:
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She makes $160K a year. She can afford it. She just doesn't WANT to.
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She makes $160K a year. She can afford it. She just doesn't WANT to.
that would depend on what her other expenses are. $160K probably dosen't go far in Caliiiiiiifornia!
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The poor victim, Laura Richardson:
(http://richardson.house.gov/photos/official-photo.jpg)
I'm surprised she didn't go ahead and make it even crappier for other women by saying she had pms all that time too and it influenced her decisions. What a disgrace. Women like this who are comfortable being simultaneously strong when it suits them, yet frail when it benefits them do such a disservice to hard working women who take their freedoms and responsibilities very seriously. :banghead:
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She makes $160K a year. She can afford it. She just doesn't WANT to.
that would depend on what her other expenses are. $160K probably dosen't go far in Caliiiiiiifornia!
I made less than half that yet still seemed to manage while I lived there.
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okay I defer to your good judgement, I was just thinking of what she brings home assuming the 160k was before taxes state and federal and what is the mortgage payment on a $565.0000 house?
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W.M. should garnish her wages. I saw a list of Congress critters that had declared bankruptcy and/or written hot checks or could not even get a credit card. It was not just a few but almost a 100 of these sleezebags.
Laws need to be changed so that someone that never pays the 1st mortgage payment can be evicted within 2 or 3 months. As it stands, it takes almost a year to oust a debeat. The time limit should be shortened to correspond to the time it takes to oust a rentor.
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okay I defer to your good judgement, I was just thinking of what she brings home assuming the 160k was before taxes state and federal and what is the mortgage payment on a $565.0000 house?
Even assuming she's filing married/separate (worst case) both federal and state, she's still looking at 9K monthly after taxes. Assuming she had a 30-year mortgage with nothing down and a 565K balance, at current rates (6 percent APR--higher than what I'm paying), she's still looking at $3400 a month.
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DEADBEAT!!!!! :banghead:
The bill collectors started knocking soon after, according to records reviewed Wednesday by The Associated Press.
In June 2007, the city’s utility department placed a lien on her property for $154 in unpaid bills, according to documents on file at the Sacramento County Recorder’s Office. In December, Richardson received a default notice from the collection agency of Washington Mutual Inc., her lender. At that point, she owed $18,356. …Records on file at the Sacramento County Tax Collector’s Office also show Richardson is delinquent in paying $8,950 in property taxes.
Did she also use the tax-free per-diem the state gives them for housing??? Yes, that's right. Lawmakers who live more than 50 miles from Sacramento are given an allowance for housing.
Oh and she's a Hillary Superdelegate.
Check this out -
http://www.dailybreeze.com/ci_9366061
Rep. Laura Richardson, who lost her Sacramento home in a recent foreclosure auction, has also defaulted on properties in Long Beach and San Pedro, records show.
Richardson, D-Long Beach, was able to bring her payments up to date on the Long Beach home relatively quickly, but the San Pedro property lingered in the foreclosure process for almost eight months, and still has a pending auction date.
She offered no apologies for failing to make payments on three separate homes and expressed no regret for failing to pay nearly $9,000 in property taxes.
In her only admission of fault, she said she could have acted more quickly to correct the situation.
"I should have moved forward in an earlier fashion," she said. "I acknowledge that. I intend never to conduct business in that fashion again."
Asked how she planned to reimburse the state for her unpaid property taxes, Richardson said, "I have financial obligations, and I will fulfill those financial obligations. - There will be no debts to the state of California."
In an hour-and-a-half interview in the offices of the Press-Telegram, Richardson declined to answer numerous detailed questions about her finances. For example, she refused to discuss the mortgage terms on the Sacramento house, refused to say how many payments she had made, and refused to say when she learned that the mortgage was in default.
As a member of Congress, Richardson makes $169,300 a year. As a member of the Assembly, she made about $116,000, plus a per diem for living expenses in Sacramento.
When it was pointed out that the average American makes far less than that, Richardson responded, "The average American is not responsible for maintaining several households."
Richardson said she did not make an effort to sell the Sacramento home, even after she was elected to Congress, and still hoped to rent it out.
Richardson noted that unlike the state Legislature, the U.S. Congress does not provide for living expenses.
"On the federal level, there is no per diem," she said. "They don't pay for you to move."
Richardson is renting an apartment in the Washington, D.C., area. She declined to disclose or discuss her credit score.
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Big freaking whoop. She's living on other people's dimes. How 'Rat of her.