90-Year Old Attempts Suicide Over Foreclosure

Addie Polk, a 90-year old Ohio woman, attempted to kill herself with a gun as local deputies were arriving to evict her from her home.  Bloggers are calling her “the face of the crisis“, embodying not just financial hardship but also lack of financial guidance.

Ms. Polk has lived in her home for around 38 years, according to neighbors.  The mortgage was paid off in 1982.  She had since re-mortgaged her home three times since 1997 to ease financial burdens.  What would probably helped her is a reverse mortgage to allow her access to her home equity without having to make monthly payments.  Those lenders that have given her a mortgage since 1997 should have explored other options for Ms. Polk to consider based on her age.  Her last mortgage was with Countrywide in 2004, the mortgage company that had become infamous in recent times for its mortgage practices.

The people of Akron, Ohio have rallied behind Ms. Polk, including the OH Congressman Dennis Kucinich.  A Fannie Mae spokesperson has also said that Ms. Polk’s mortgage has been forgiven.  Ms. Polk is in critical condition at the Akron General Medical Center.