Foreclosures get serious as desperate homeowners attempt suicide
Filed under: Debt, Home, Real Estate, Recession, Bankruptcy
Foreclosures have all sorts of victims and we've been reporting on them since the beginning of the crisis, but the stories of real people may have gotten a little lost over the past few weeks as the banking crisis has spiraled out of control. How do you process the plight of one woman losing her home against the backdrop of a $700 billion rescue plan? Both are impossible to fathom. And this woman has not been the only one to come to national attention for attempting suicide -- there was a case back in July of a Massachusetts woman who committed suicide as she faced eviction.
Perhaps as Congress considers the big picture of the financial crisis, it's important that they are reminded of the very real human costs of our economic condition.
Real Estate Troubles
Mexican billionaire Carlos Slim speaks during an interview with foreign correspondents in Mexico City September 30, 2008. Private investors should take stakes in U.S. banks to save them from financial ruin, with the government buying failed mortgage debt only as a last resort, Slim said on Tuesday. REUTERS/Felipe Courzo (MEXICO)
Reuters
Mexican billionaire Carlos Slim speaks during an interview with foreign correspondents in Mexico City September 30, 2008. Private investors should take stakes in U.S. banks to save them from financial ruin, with the government buying failed mortgage debt only as a last resort, Slim said on Tuesday. REUTERS/Felipe Courzo (MEXICO)
Reuters
Mexican billionaire Carlos Slim speaks during an interview with foreign correspondents in Mexico City September 30, 2008. Private investors should take stakes in U.S. banks to save them from financial ruin, with the government buying failed mortgage debt only as a last resort, Slim said on Tuesday. REUTERS/Felipe Courzo (MEXICO)
Reuters
Rolando Gamez sweeps up litter on Wall St. in front of the New York Stock Exchange Tuesday, Sept. 30, 2008 in New York. A snapback of some degree wasn't unexpected as carnage on Wall Street often attracts bargain hunters. Still, questions remain about how Wall Street will proceed without a bailout plan in place to absorb soured mortgage and other debt from banks' balance sheets and restore confidence in lending. (AP Photo/Mark Lennihan)
AP
Wall St. is shown Tuesday, Sept. 30, 2008 in New York. A snapback of some degree wasn't unexpected as carnage on Wall Street often attracts bargain hunters. Still, questions remain about how Wall Street will proceed without a bailout plan in place to absorb soured mortgage and other debt from banks' balance sheets and restore confidence in lending. (AP Photo/Mark Lennihan)
AP
U.S. Senate Banking Committee Chairman Chris Dodd (D-CT) answers questions during a news conference, about the failure of a bill to provide a bailout for the current financial and banking crisis, on Capitol Hill in Washington, September 29, 2008. The U.S. House of Representatives on Monday rejected a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets. REUTERS/Jim Young (UNITED STATES)
Reuters
U.S. Senate Banking Committee Chairman Chris Dodd (D-CT) (L) and Senator Judd Gregg (R-NH) answer questions during a news conference, about the failure of a bill to provide a bailout for the current financial and banking crisis, on Capitol Hill in Washington, September 29, 2008. The U.S. House of Representatives on Monday rejected a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets. REUTERS/Jim Young (UNITED STATES)
Reuters
U.S. Senate Banking Committee Chairman Chris Dodd (D-CT) (L) and Senator Judd Gregg (R-NH) answer questions during a news conference, about the failure of a bill to provide a bailout for the current financial and banking crisis, on Capitol Hill in Washington, September 29, 2008. The U.S. House of Representatives on Monday rejected a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets. REUTERS/Jim Young (UNITED STATES)
Reuters
U.S. Senate Banking Committee Chairman Chris Dodd (D-CT) (L) and Senator Judd Gregg (R-NH) leave a news conference, about the failure of a bill to provide a bailout for the current financial and banking crisis, on Capitol Hill in Washington, September 29, 2008. The U.S. House of Representatives on Monday rejected a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets. REUTERS/Jim Young (UNITED STATES)
Reuters
U.S. Speaker of the House Nancy Pelosi (D-CA) listens to questions during a news conference, about the failure of a bill to provide a bailout for the current financial and banking crisis, on Capitol Hill in Washington, September 29, 2008. The U.S. House of Representatives on Monday rejected a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets. REUTERS/Jim Young (UNITED STATES)
Reuters
Reader Comments (Page 1 of 1)
10-03-2008 @ 4:32PM
Dennis A. Chabot said...
The following List of Corrupt Crooks Have created the mess that is causing people to commit suicide. They have made millions as CEO's over others suffering>
WANTED Dead or ALIVE
Alan Fishman, Stanley Oneal, Charles Prince, Angelo Mozilo, Kerry Killinger, Ken Thompson, Richard Fukl,Richard Syron, James cayne, John Thaon, Daniel Mudd, Robert Wilamstud( he declined his big CEO bonus and seperation but don,t worry he has stolen plenty already. Think about it these are Bush Cheney and McCaian's best friends they all would screw there own mother for a nickel. One thing for sure they won't have to worry about seeing Peter at the pearly gates they will all rot in Hell.
Reply
10-03-2008 @ 6:05PM
Caroline Westbrook said...
Amen and Amen!
10-03-2008 @ 5:01PM
Vince said...
I just do not understand why we have to bail them out when most of the big company send there jobs overseas and not we get stuck with helping them
Reply
10-07-2008 @ 8:41AM
marilyn said...
Facing foreclosure? you do have options, I got help from a great company! You can too! www.freewebs.com/savehome
Reply
10-07-2008 @ 8:41AM
F. Lawrence Hall said...
Foreclosure Help! Keep your home!!!
Reply