Ill woman loses Fresno home in questionable mortgage deal

[alp227]

Marsha Kilgore stopped working in 2005 after she was diagnosed with breast cancer, and the following year -- after a double mastectomy -- decided to refinance her home.

Kilgore was running low on money, and she believed refinancing could keep her in her northeast Fresno condo. Although banks were marketing adjustable-rate mortgages with low payments and little income verification, she was a real estate agent and knew they were risky -- and she didn't want any part of them.

But after she inadvertently ended up in one of those deals, Kilgore lost her home months before she lost her battle with cancer and chronic breathing problems. Those closest to her say the banks took advantage of her ailing health and finances.

"The bank made a conscious decision that their profit meant more than her life, and that's despicable," said lawyer Lenore Albert, who took Kilgore's case to reclaim her home pro bono earlier this year. "They knew with 100% certainty that she would lose her home."

Kilgore, 62, made regular mortgage payments for 16 years on her condo. After she fell ill, her income came from Social Security and disability, but she had enough money to pay a mortgage, said daughter Brooke Noble, who lived with her.

Read more here: http://www.fresnobee.com/2013/11/28/3637137/ill-woman-loses-fresno-home-in.html

[annm4peace]

1. Thanks for posting.

I wish there were enough activists in Fresno to help people fight back foreclosures in Fresno, but I know just trying to stop the assaults on people who are homeless in Fresno by the City of Fresno is more than the activists can do.

Please check out Occupy Homes and Occupy Homes MN.

That story is heart breaking and it is shameful the Attorney General of CA did nothing to stop it.

I wonder how many others stories are out there. I know there must be many. I wish John Stump would be held accountable for the death of this home owner.


One good thing is that New York is finally going after a person in the mortgage industry, and I hope he squeals on the higher ups.

" The U.S. government on Friday sought permission to add a Wells Fargo & Co (WFC.N) executive, Kurt Lofrano, as a defendant in its year-old lawsuit accusing the bank of fraud.

In a motion filed in U.S. District Court in Manhattan, the Justice Department said Lofrano played a "critical role" in the bank's alleged failure to report defective home loans to the government."

[FarCenter]

2. Herbert and Marion Sandler should be in jail.

http://en.wikipedia.org/wiki/Golden_West_Financial

Sleazebag California savings and loan operators.

Edit: Appears that Marion is in hell (hopefully).