djc
01-25-2008, 11:21 PM
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?
...
At one point during our conversation yesterday, Griffiths-Evans screamed that she was going to get a taxpayer bailout “whether you like it or not! We’re gonna get help from the legislators and the people in power to help us!”
http://www.bostonherald.com/news/opinion/op_ed/view.bg?articleid=1068581&ref=patrick.net
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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?
...
At one point during our conversation yesterday, Griffiths-Evans screamed that she was going to get a taxpayer bailout “whether you like it or not! We’re gonna get help from the legislators and the people in power to help us!”
http://www.bostonherald.com/news/opinion/op_ed/view.bg?articleid=1068581&ref=patrick.net
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