Posted on Dec 2, 2016
Trump voter lost her home to new Treasury secretary
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On a serious note, I feel for this lady..
Trump voter lost her home to new Treasury secretary
Posted from apnews.comPosted in these groups: 
Donald Trump
Donald Trump
Posted 8 y ago
Responses: 5
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At first glance, going with an interest only loan payment is risky and should only be used for short term. Yes, she got caught up in the economy downturn but holding a mortgage is a business. Even if she had been able to refinance the houses she would shill have been upside down. Bottom line is that investing in real estate for income, possible sole source is fraught with risk. Not the fault of mortgage lender that she was foreclosed upon. Semper Fi.
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SSG Jessica Bautista
Bank Owned By Trump’s Top Treasury Pick Foreclosed On A 90-Year-Old Over 27 Cents
Steven Mnuchin is likely to face tough questions about his record at OneWest bank, which had a track record of preying on the elderly.
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Maj John Bell
I have a problem with the article you provided. Ossie lofton made a 27 cent error late in 2014. Then by November Ossie Lofton's home was foreclosed. November of what year? Foreclosure do not happen in days, weeks, or a couple of months. Foreclosures do not happen after one notice. Something doesn't pass the sniff test here?
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CPO (Join to see)
Well the original story I agree with the MGySgt take. The Housing market was destined to fail and she set her self up with an Interest only loan. I do not understand only paying on the interest... Your bill will never go away. It seems counter intuitive.
As for the 27 cents, that is jacked up but it was not him personally that did this. I am sure he had a hand in setting the rules that were enforced just as i'm sure it was enforced by some low level a$$ Clown who wanted to meet a quota and get a raise. Here is another take on it though as the Treasury Secretary that ruthlessness would be directed at getting the best deal FOR the American people. This would take him out of the screwing the American people game. You don't send guppies to fight the Sharks. I will agree though on the surface the guy seems to be slime.
As for the 27 cents, that is jacked up but it was not him personally that did this. I am sure he had a hand in setting the rules that were enforced just as i'm sure it was enforced by some low level a$$ Clown who wanted to meet a quota and get a raise. Here is another take on it though as the Treasury Secretary that ruthlessness would be directed at getting the best deal FOR the American people. This would take him out of the screwing the American people game. You don't send guppies to fight the Sharks. I will agree though on the surface the guy seems to be slime.
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If you feel for her send her some money or cookies. This woman is not Mother Teresa. The fact is she ran a business...poorly. When she made a profit she did not give a second thought to the bank or you or the folks at the AP. It's only a story now because someone at the AP wants to do another hit piece on Trump. Who cares? He's still going to President.
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_Ms. Colebrook lived in her home for five years while she had problems paying the mortgage.
_Ms. Colebrook took on tenants who then did not pay their rent.
_Ms. Colebrook took on a high risk loan that turned out to be a bad choice.
_Ms. Colebrook's loan continued to accrue interests and penalties in the absence of payment.
_Mr. Mnuchin is a bad guy because the business, not charity, of which he was the CEO finally took action after five years.
One of these things is not like the others, One of these things just doesn't belong, Can you tell which thing is not like the others By the time I finish my song?
What was OneWest supposed to do? Should OneWest have ignored Federal and State banking regulations on how much bad debt they can hold within their assets? Ms. Colebrook did not lose her home to Mr. Mnuchin, she lost it to bad business decisions she made.
_Ms. Colebrook took on tenants who then did not pay their rent.
_Ms. Colebrook took on a high risk loan that turned out to be a bad choice.
_Ms. Colebrook's loan continued to accrue interests and penalties in the absence of payment.
_Mr. Mnuchin is a bad guy because the business, not charity, of which he was the CEO finally took action after five years.
One of these things is not like the others, One of these things just doesn't belong, Can you tell which thing is not like the others By the time I finish my song?
What was OneWest supposed to do? Should OneWest have ignored Federal and State banking regulations on how much bad debt they can hold within their assets? Ms. Colebrook did not lose her home to Mr. Mnuchin, she lost it to bad business decisions she made.
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