foreclosure kills another family

[patb]

http://www.washingtonpost.com/wp-dyn/content/article/2009/04/21/AR2009042102484.html?hpid=moreheadlines

The man who killed his wife and three young children and then himself in a tiny town in northwest Maryland last week was at least $460,000 in debt and owned a Florida house that was in foreclosure, according to property records and police.

In one of six notes he left scattered about the rented house in Middletown, Christopher Wood, 34, described his financial hardships and his struggle with depression and anxiety — factors that investigators believe contributed to the killings.

Frederick County Sheriff Charles Jenkins said that about half of the family’s debt came from credit cards. The Woods were unable to sell the home in Jacksonville, Fla., and their mortgage was “way beyond their capability to pay,” he said.

Records show that the family bought the Florida home in 2005 with virtually no money down, taking on a $208,000 mortgage. The next year, the Woods took out a second mortgage for $108,000.

The bank that holds the initial mortgage filed foreclosure papers in October, records show.

(pity the guy made 97K and his wife could go back to work.
file bankruptcy shred credit, live in an apartment, never buy
florida real estate.)

[GoUSC]

So let me get this straight…

– Guy makes 97k a year
– Guy buys home for $208k
– Withdraws $108k in equity
– Still manages to run up $200k+ in CC debt

I feel sorry for the wife and kids but how exactly are homeowners the poor taken advantage of people in this whole thing?

This is what our society has become…God help us all.

[GoUSC]

So let me get this straight…

– Guy makes 97k a year
– Guy buys home for $208k
– Withdraws $108k in equity
– Still manages to run up $200k+ in CC debt

I feel sorry for the wife and kids but how exactly are homeowners the poor taken advantage of people in this whole thing?

This is what our society has become…God help us all.

[GoUSC]

So let me get this straight…

– Guy makes 97k a year
– Guy buys home for $208k
– Withdraws $108k in equity
– Still manages to run up $200k+ in CC debt

I feel sorry for the wife and kids but how exactly are homeowners the poor taken advantage of people in this whole thing?

This is what our society has become…God help us all.

[GoUSC]

So let me get this straight…

– Guy makes 97k a year
– Guy buys home for $208k
– Withdraws $108k in equity
– Still manages to run up $200k+ in CC debt

I feel sorry for the wife and kids but how exactly are homeowners the poor taken advantage of people in this whole thing?

This is what our society has become…God help us all.

[GoUSC]

So let me get this straight…

– Guy makes 97k a year
– Guy buys home for $208k
– Withdraws $108k in equity
– Still manages to run up $200k+ in CC debt

I feel sorry for the wife and kids but how exactly are homeowners the poor taken advantage of people in this whole thing?

This is what our society has become…God help us all.

[Coronita]

Add the CFO for Freddie Mac to the list of people that killed themselves (or at least that’s what it is suspected as of now)..

http://finance.yahoo.com/news/Reports-Freddie-Mac-official-apf-14995348.html?sec=topStories&pos=2&asset=&ccode=

WASHINGTON (AP) — David Kellermann, the acting chief financial officer of Freddie Mac, was found dead at his home Wednesday morning in what broadcast reports said was an apparent suicide.

WUSA-TV and WTOP Radio reported that David Kellermann was found dead in his Northern Virginia home. The 41-year-old Kellermann has been Freddie Mac’s chief financial officer since September.

Sabrina Ruck, a Fairfax County police spokesman, confirmed to The Associated Press that Kellermann was dead, but she could not confirm that he committed suicide.

Kellermann’s death is the latest blow to Freddie Mac, a government controlled company that owns or guarantees about 13 million home loans. CEO David Moffett resigned last month.

McLean, Va.-based Freddie Mac and sibling company Fannie Mae, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults and have received about $60 billion in combined federal aid.

[Coronita]

Add the CFO for Freddie Mac to the list of people that killed themselves (or at least that’s what it is suspected as of now)..

http://finance.yahoo.com/news/Reports-Freddie-Mac-official-apf-14995348.html?sec=topStories&pos=2&asset=&ccode=

WASHINGTON (AP) — David Kellermann, the acting chief financial officer of Freddie Mac, was found dead at his home Wednesday morning in what broadcast reports said was an apparent suicide.

WUSA-TV and WTOP Radio reported that David Kellermann was found dead in his Northern Virginia home. The 41-year-old Kellermann has been Freddie Mac’s chief financial officer since September.

Sabrina Ruck, a Fairfax County police spokesman, confirmed to The Associated Press that Kellermann was dead, but she could not confirm that he committed suicide.

Kellermann’s death is the latest blow to Freddie Mac, a government controlled company that owns or guarantees about 13 million home loans. CEO David Moffett resigned last month.

McLean, Va.-based Freddie Mac and sibling company Fannie Mae, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults and have received about $60 billion in combined federal aid.

[Coronita]

Add the CFO for Freddie Mac to the list of people that killed themselves (or at least that’s what it is suspected as of now)..

http://finance.yahoo.com/news/Reports-Freddie-Mac-official-apf-14995348.html?sec=topStories&pos=2&asset=&ccode=

WASHINGTON (AP) — David Kellermann, the acting chief financial officer of Freddie Mac, was found dead at his home Wednesday morning in what broadcast reports said was an apparent suicide.

WUSA-TV and WTOP Radio reported that David Kellermann was found dead in his Northern Virginia home. The 41-year-old Kellermann has been Freddie Mac’s chief financial officer since September.

Sabrina Ruck, a Fairfax County police spokesman, confirmed to The Associated Press that Kellermann was dead, but she could not confirm that he committed suicide.

Kellermann’s death is the latest blow to Freddie Mac, a government controlled company that owns or guarantees about 13 million home loans. CEO David Moffett resigned last month.

McLean, Va.-based Freddie Mac and sibling company Fannie Mae, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults and have received about $60 billion in combined federal aid.

[Coronita]

Add the CFO for Freddie Mac to the list of people that killed themselves (or at least that’s what it is suspected as of now)..

http://finance.yahoo.com/news/Reports-Freddie-Mac-official-apf-14995348.html?sec=topStories&pos=2&asset=&ccode=

WASHINGTON (AP) — David Kellermann, the acting chief financial officer of Freddie Mac, was found dead at his home Wednesday morning in what broadcast reports said was an apparent suicide.

WUSA-TV and WTOP Radio reported that David Kellermann was found dead in his Northern Virginia home. The 41-year-old Kellermann has been Freddie Mac’s chief financial officer since September.

Sabrina Ruck, a Fairfax County police spokesman, confirmed to The Associated Press that Kellermann was dead, but she could not confirm that he committed suicide.

Kellermann’s death is the latest blow to Freddie Mac, a government controlled company that owns or guarantees about 13 million home loans. CEO David Moffett resigned last month.

McLean, Va.-based Freddie Mac and sibling company Fannie Mae, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults and have received about $60 billion in combined federal aid.

[Coronita]

Add the CFO for Freddie Mac to the list of people that killed themselves (or at least that’s what it is suspected as of now)..

http://finance.yahoo.com/news/Reports-Freddie-Mac-official-apf-14995348.html?sec=topStories&pos=2&asset=&ccode=

WASHINGTON (AP) — David Kellermann, the acting chief financial officer of Freddie Mac, was found dead at his home Wednesday morning in what broadcast reports said was an apparent suicide.

WUSA-TV and WTOP Radio reported that David Kellermann was found dead in his Northern Virginia home. The 41-year-old Kellermann has been Freddie Mac’s chief financial officer since September.

Sabrina Ruck, a Fairfax County police spokesman, confirmed to The Associated Press that Kellermann was dead, but she could not confirm that he committed suicide.

Kellermann’s death is the latest blow to Freddie Mac, a government controlled company that owns or guarantees about 13 million home loans. CEO David Moffett resigned last month.

McLean, Va.-based Freddie Mac and sibling company Fannie Mae, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults and have received about $60 billion in combined federal aid.

[Coronita]

[quote=GoUSC]So let me get this straight…

– Guy makes 97k a year
– Guy buys home for $208k
– Withdraws $108k in equity
– Still manages to run up $200k+ in CC debt

I feel sorry for the wife and kids but how exactly are homeowners the poor taken advantage of people in this whole thing?

This is what our society has become…God help us all.[/quote]

I believe he invested in RE that was not selling nor renting. I think something that put him back $400k. It’s just sad people kill themselves and their family because of this… Just let the bank foreclose. It’s not the end of the world.

[Coronita]

[quote=GoUSC]So let me get this straight…

– Guy makes 97k a year
– Guy buys home for $208k
– Withdraws $108k in equity
– Still manages to run up $200k+ in CC debt

I feel sorry for the wife and kids but how exactly are homeowners the poor taken advantage of people in this whole thing?

This is what our society has become…God help us all.[/quote]

I believe he invested in RE that was not selling nor renting. I think something that put him back $400k. It’s just sad people kill themselves and their family because of this… Just let the bank foreclose. It’s not the end of the world.

[Coronita]

[quote=GoUSC]So let me get this straight…

– Guy makes 97k a year
– Guy buys home for $208k
– Withdraws $108k in equity
– Still manages to run up $200k+ in CC debt

I feel sorry for the wife and kids but how exactly are homeowners the poor taken advantage of people in this whole thing?

This is what our society has become…God help us all.[/quote]

I believe he invested in RE that was not selling nor renting. I think something that put him back $400k. It’s just sad people kill themselves and their family because of this… Just let the bank foreclose. It’s not the end of the world.

[Coronita]

[quote=GoUSC]So let me get this straight…

– Guy makes 97k a year
– Guy buys home for $208k
– Withdraws $108k in equity
– Still manages to run up $200k+ in CC debt

I feel sorry for the wife and kids but how exactly are homeowners the poor taken advantage of people in this whole thing?

This is what our society has become…God help us all.[/quote]

I believe he invested in RE that was not selling nor renting. I think something that put him back $400k. It’s just sad people kill themselves and their family because of this… Just let the bank foreclose. It’s not the end of the world.

[Author]

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