85 Year Old Widow Facing Foreclosure Sues Wachovia / World Savings For Unaffordable "Pick A Payment" Mortgage

In Oakland, California, KPIX-TV Channel 5 reports:

• [A]dvocate [Maeve Elise] Brown at HERA [Housing and Economic Rights Advocates] has filed a lawsuit on [85 year old widow] Dollie Ross' behalf. In it, Brown says World Savings should have known Mrs. Ross would not have been able to afford the loan. "From the prior loans, World Savings knew the household income and knew that the 2006 refinance was beyond (Ross') ability to pay," the complaint reads. In fact, the complaint alleges that not only could Ross not afford the minimum payment, the regular principal and interest option on the loan was actually "two to three times (Ross') total income."

• Her daughter Sally said, "When they came to see her, she was alone, she was suffering from pneumonia, she had vision problems and hearing problems, and she really was in no condition to understand what they were talking about."

For more, see Wachovia Sued Over 'Pick-A-Payment' Loans (read story) (watch video).

For other posts on homeowners using Federal & state consumer protection statutes to try and undo bad mortgage loans, Go Here, Go Here, and Go Here. undo mortgage loans TILA batallion