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Ana Wilson
I can't say I'm surprised at the way the
LA Times painted the story of Ana Wilson and her foreclosure nightmare. Scott, the
Times on-scene business reporter (yeah, they sent a business reporter), spoke with me at length about the complexities of the nation's foreclosure crisis. Complexities, he said, that made it difficult for him to understand the nuances in cases like Ana's. How could so many people feel entitled to get out of an agreement they signed?
Scott was leaving the Wilson residence as I arrived. I was handed a sort of press release by a fellow activist in the kitchen which outlined the series of events leading up to the eviction of the Wilsons from their South Gate home. It said, in simple terms, that Ana had been born with cerebral palsy, and her family had lived at this residence since 1975. Several years ago, around the same time as the peak of the lending fraud crisis, Ana was diagnosed with stage four breast cancer. In 2009, a nice, educated woman in an expensive-looking pantsuit came from Wells Fargo and assured the Wilsons that in order to keep up with her medical costs and their mortgage, the family should refinance their home loan. Their payments would be lower, said the woman, and it was the right thing to do. After all, the pants-suited woman, Tricia, was a professional loan officer from Wells Fargo. If anyone knew when to refinance, it would be Tricia.
Having discussed the foreclosure crisis with business reporters from Fox, the
Times, and others, the business reporter angle seems unfaltering: those people should have known better. Entering into a loan agreement you can't afford to pay back is obviously a bad idea -- but how obviously? What each of these reporters fails to recognize -- and report on -- are several things.
Comment: Some time ago there was a paper written, which went along these lines: "..in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare.." The paper, considered the corner stone of American Democracy, appears to have been forgotten. This isn't to make acceptable what this lady has done, but due to the fact that the paper is being, has been undermined, people are becoming more and more desperate for help, especially in the state the Western Worlds economy is in.