Newspaper: Ms. Richardson had fallen into mortgage trouble before, missing mortgage payments on two other homes she owns, including five defaults that totaled $71,000 over the past 13 months.

Laura Richardson again falls behind on house payments 

The Wall Street Journal documents Laura Richardson's bizarre and drawn-out mortgage problems on her three homes.

  • Laura Richardson’s Sacramento three-bedroom house, which just hit the market as a short sale, listed at $399,000, well below the home’s $535,001 purchase price, Capitol Weekly reports.
  • In 2008 Ms. Richardson, a Democrat, briefly lost the home to foreclosure. It was seized by the bank and sold at auction.
  • In an extremely unusual move, the sale was later rescinded.
  • The Sacramento home slipped back into default in November 2009, Capitol Weekly reports. Documents indicate that Ms. Richardson again fell behind on payments–this time by about $42,000. Through a spokesman, Ms. Richardson says that she didn’t fall behind.
  • Ms. Richardson bought the home with no money down in January 2007 but lived there only briefly before winning her current seat in a special election.
  • In 2008, the Los Angeles Times reported that Ms. Richardson had fallen into mortgage trouble before, missing mortgage payments on two other homes she owns, her primary residence in Long Beach and her mother’s home in San Pedro, over the last eight years, including five defaults that totaled $71,000 over the past 13 months, according to public documents obtained by the paper.

Read the full article at Wall Street Journal.

Filed under: media, laura richardson

  • Faith, Freedom and Personal Responsibility
Star Parker
Star Parker is a syndicated columnist, author and the founder and president of CURE, the Center for Urban Renewal & Education, a 501(c)3 non-profit think tank that explores and promotes market-based public policy to fight poverty.
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