Self Inflicted Gunshot Helps Homeowner Avoid Foreclosure

October 6, 2008 No Comments »

no guns

In what will hopefully be an isolated incident, a 90-year old woman from Akron, Ohio shot herself in the chest as authorities approached her home to carry out a foreclosure-related eviction.

Fortunately, and rather amazingly, homeowner Addie Polk survived the incident, and is currently recovering at Akron General Medical Center, according to Ohio.com.

Polk had faced foreclosure back in 2007 after failing to make mortgage payments on her Countrywide-issued mortgage, ignoring notices along the way until sheriffs eventually arrived to remove her from the residence.

Mortgage financier Fannie Mae, who assumed the mortgage via a sheriff’s auction after the mortgage lender filed foreclosure action against Polk in September 2007, decided to forgive the debt under the extreme circumstances.

While Fannie’s action makes sense given the situation, frustrated homeowners on message boards expressed frustration, with one angry commenter pondering if he could get a free home if he shot himself.

Akron City Council President Marco Sommerville said foreclosure activity has been rampant in the city, with 99 foreclosure filings reported on the east side of town in just one month recently.

But this is by far the most extreme example of a struggling homeowner attempting to avoid foreclosure, though hopefully it will spark more meaningful and involved loan modification efforts going forward.

Back in April, the Insurance Information Network of California warned at-risk borrowers that arson was not a viable foreclosure solution after 14 arsons potentially related to foreclosure were reported by the California Dept. of Insurance.

(photo: myklroventine)

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