UK Daily Mail
Monday, Oct 13, 2008
Neighbours of a woman who tried to kill herself when she faced repossession of her home today spoke of homeowners’ desperation as the U.S. presidential candidates battled for their votes.
Addie Polk, 90, shot herself in the chest moments before bailiffs were due to march her out of her house, after mortgage giant Fannie Mae hardened its approach to victims of the U.S. sub-prime mortgage crisis.
Ms Polk, now recovering in hospital, had taken out a 30-year mortgage four years ago for $45,620 – when her two-storey house in Akron, Ohio, was valued at $31,230. She had lived in the house for 38 years.
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She placed her life insurance policy next to her keys in the neatly kept house and shot herself after being told the house would be repossessed as she could not keep up repayments.
She had told neighbours she could not afford to carry out repairs but no one in the small community knew the extent of her crisis.
This article was posted: Monday, October 13, 2008 at 4:04 am