Wednesday, March 30, 2011
Local Foreclosure Post - US Government Sues Senior Housing
Looking through the list of foreclosures in the local newspaper this morning turned up an interesting item. The United States of America, particularly the former agency known as Farmer's Home Administration and now known as the Rural Development Agency, part of the US Department of Agriculture has sued Whispering Winds Apartment complex in Harrison, Michigan for default of its mortgage on a senior housing and low-income apartment complex claiming it is owed over $700,000. Of course, the interesting part about this is that the residents of the complex could all become homeless if the foreclosure process is completed. Whether or not this is just a formality in an attempt for the US to regain it's money remains to be seen. But aren't there other targets for the US government to chase after rather than an apartment complex that receives government subsidies for its residents? Do you see the irony here? The United States government is actually suing a limited partnership which relies upon government subsidies as its main source of payment!!! Maybe the government subsidies aren't enough for the borrower to make its payments. Instead of costing itself and US taxpayers millions of dollars in court costs, why doesn't the US go chase BP and its brilliant Board of Directors for the hundreds of millions and billions of dollars it owes citizens affected by the gulf oil spill. Oh, that's right - someone lost all of the claimants' information on their misplaced laptop. Perhaps that is what happened at Whispering Winds; one of the elderly apartment managers with a slight loss of memory may have accidentally misplaced a monthly payment meant for the USDA and gave it away as last month's Bingo winnings. Only in America does the government actually have the gall to try and sue itself, however indirectly it may be.
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