Tuesday, June 10, 2003 ACORN files HUD complaint against First State Mortgage
Louise Davis is a 69-year-old African A merican woman who has owned her home in North Minneapolis since 1984. She receives $961 a month from Social Security. She had just about $30,000 left on her mortgage and a monthly payment of $417, including taxes and insurance. In addition, she had a few smaller loans which she had gotten through special home improvement programs and which had below market interest rates. She needed to make some additional improvements, and a mortgage broker arranged for her to get a loan through First State Mortgage. The $82,500 loan included over $7,000 which she didn�t know about. The loan was at 10.75% interest with a monthly payment of $777, NOT including taxes and insurance. Ms. Davis is not able to afford the payments and is in danger of losing of her house. http://www.insightnews.com http://www.insightnews.com/articles.asp?mode=display&articleID=666 Posted by Shawn Lewis, Field Neighborhood -- _______________________________________________ Sign-up for your own FREE Personalized E-mail at Mail.com http://www.mail.com/?sr=signup TEMPORARY REMINDER: 1. Don't feed the troll! Ignore obvious flame-bait. 2. If you don't like what's being discussed here, don't complain - change the subject (Mpls-specific, of course.) ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
