Seattle Jazz Great Faces Foreclosure
Categories: Current Events, Foreclosure, Predatory Lending
Sad news today that legendary Seattle jazz musician Ernestine Anderson, 79, is facing foreclosure on the Central District home that she and her family have owned and lived in since 1946. The Associated Press reports that Anderson, who has largely retired from performing and lives on Social Security benefits of about $1,000 a month, has a loan on her home that asks for a payment of $5,000 every month. Counselors are trying to find out more about how Anderson got into the loan, but given the size of the monthly payment it certainly sounds predatory. (Elderly people with lots of home equity but low incomes are prime targets for predatory lenders and scammers.)
Anderson has to come up with $44,000 in back payments and taxes by Monday, June 30, or her home will be put up for auction. Donations can be made at any Bank of America branch.



