California Representative Slips into Foreclosure
May 22nd, 2008 by 
admin
As the legislature struggles to find a solution to the rising numbers of foreclosures in California, one representative is now feeling the burden of the problem first hand. California state representative Laura Richardson, a member of the House of Representatives, saw her home slip into default last week after she fell behind on her home payments. The debt on her home has now passed a significant amount, and sources say a foreclosure trustee sale has been scheduled.
This shows just how far the foreclosure problem has extended in California. Even though Richardson makes a six figure salary, she too is being affected by the state’s surge in foreclosures. The irony here is that Richardson has been part of recent talks in the state Congress about how to slow the foreclosure trend and find a solution for homeowners.
Reports also indicate that neighbors complained about the foreclosure, citing that Richardson did little to take care of the house, and now it is dragging down property values of homes all around it, a common problem when a foreclosure happens within a community.
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5 Comments »
May 23rd, 2008 at 12:26 pm
[...] California Representative Slips into Foreclosure [...]
May 24th, 2008 at 12:50 am
[...] California Representative Slips into Foreclosure As the legislature struggles to find a solution to the rising numbers of foreclosures in California, one representative is now feeling the burden of the problem first hand. California state representative Laura Richardson, a member of the House of Representatives, saw her home slip into default last week after she fell behind on her home payments. The debt on her home has now passed a significant amount, and sources say a foreclosure trustee sale has been scheduled. [...]
May 24th, 2008 at 3:34 pm
This is an amazing story. But Richardson’s true position is unclear.
While the California General Assembly is struggling with the state’s foreclosure crisis, Richardson is actually a California member of the U.S. House of Representatives.
Also, her home is past default: it was sold earlier this month at a foreclosure auction, which makes it appear that U.S. Rep. Richardson lied in a statement she issued last week regarding the status of her distressed property.
Richardson apparently went into debt in her campaign to be elected to the U.S. House of Representatives. Her opponent died of cancer….
May 28th, 2008 at 8:08 am
[...] California Representative Slips into Foreclosure As the legislature struggles to find a solution to the rising numbers of foreclosures in California, one representative is now feeling the burden of the problem first hand. California state representative Laura Richardson, a member of the House of Representatives, saw her home slip into default last week after she fell behind on her home payments. The debt on her home has now passed a significant amount, and sources say a foreclosure trustee sale has been scheduled. [...]
May 29th, 2008 at 4:46 pm
My understanding is that she had 4 houses and 3 are in trouble.