Everybody deserves a half of a million dollars free and clear!
It is the new campaign promise.
Posted on 01/24/2008 6:59:50 AM PST by suspects
Meet Melonie Griffiths-Evans, the new poster child for the Subprime Lending Scandal of 2008.
You’ve probably seen her on TV, or read about her in this newspaper. She’s the single mom with three kids who just wanted to “live the American dream,” as she puts it. In December 2004, with no down payment and working as an assistant teacher, she signed on the dotted line for a $470,000 subprime mortgage on a house in Dorchester.
Three years later, the government foreclosed on her loan. She was to be evicted yesterday, until a threatened physical confrontation from a coalition that calls itself Dorchester People for Peace resulted in a government stand-down.
As of today, she’s still in a house she could never afford with a lousy loan she can’t get out of. What happened?
“I relied on my mortgage broker, I relied on my Realtor,” Griffiths-Evans now says. “They left me no options.”
In other words, she’s a dupe. She’s a victim.
Did I mention that she is also a licensed real estate agent in Massachusetts?
That’s right. Griffiths-Evans is a Realtor in Dorchester - has been since just a few months after she bought her house. According to public records, it appears she’s handled more than 20 real estate transactions in the past two years. Alas, none of them involved her getting out of her house or her expensive subprime loan.
No. Apparently solving her personal financial problems is our job.
(Excerpt) Read more at news.bostonherald.com ...
Everybody deserves a half of a million dollars free and clear!
It is the new campaign promise.
I was thinking the same thing.
“Griffiths-Evans” ? ? ?
I know all I need to know about that one!
Rule #1 in life: Never, ever, under any circumstances trust a women with a hyphenated name (or 3 names).
Learn it, live it, love it. It will serve you well.
I shoulda got in while the gettin' was good!
Ok, she's an idiot. I don't know what assistant teachers make in MA, but this is beyond stupid. Did she have a budget? Did the broker go over the payments with her? Can she do simple math?
If it were up to me. (boy could I straighten out the world! ;-)) I'd kick her out of the house, put her in something she could afford and then revoke the license of the broker that put her into something so far over her head.
Government? Who am I kidding? Meant to say taxpayers!
“Stop me before I kill again”
She HAD to be in real estate before getting the loan. Maybe didn’t have her license but she knew her way around, or she wouldn’t have bagged a half-million-dollar loan. Also, I’d be looking real hard at the mortgage broker. There’s a lot of dextrous brokers out there who know how to milk that cow. If he’s smart he made sure her fingerprints are in all the right places so he can’t be charged with fraud.
HOw in HE(& did this woman think she could ever pay for a house at that cost. I live in Arkansas where houses cost much less and am a single physician and could not afford a house that costs that much. Are people CRAZEY!!!!!!!!!
As I remember Dorchester from years ago and I can’t imagine much change, I would think that a cool half mil would buy a whole block.
How did the “government” foreclose on her loan? Did they lend her the money? Or do they just mean that it was (as all foreclosures are) filed in the court system?
I’m curious how much money this “assistant” teacher makes...and how much she made as a realtor.
Good idea with one flaw...there is nothing she can afford in Massachusetts.
$470,000 sounds like a lot, but when you factor in that it’s DORCHESTER, one of the biggest ghettos in Boston... WTF?!?!?!
The broker probably stood to get a choice cut of that loan, at least $20k in his hands at closing. So I can believe he was insistent. I’d also believe she was an innocent victim if she were just an assistant teacher, but as it is she was in real estate so she must have known she was playing fast & loose.
It’s hard to think of a quicker way to make easy money, than as a mortgage broker. Naturally this leads to a high density of mischief in the field.
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