Congresswoman’s home foreclosed; sold at auction
Jiminy Cricket!
No doubt, a victim of predatory lending?
The Sacramento home of Rep. Laura Richardson was sold in a public auction two weeks ago for $388,000. The Southern California Democrat bought the house for $535,000 with no money down in January 2007 and owed nearly $575,000 to Washington Mutual when the mortgage was sold earlier this month at a significant loss to Red Rock Mortgage Inc.
Source: Congresswoman’s Home Sold in Foreclosure Auction – The Wall Street Journal