Foreclosures get serious as desperate homeowners attempt suicide

By Beth Pinsker Posted 3:00PM 10/03/08 Economy, Credit, Real Estate, Banking, Family Money

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As the vice-presidential candidates talked about the financial crisis gripping this country and the House and Senate sparred over the $700 rescue bill, the crisis got a little darker for at least one family as CNN reported that a 90-year-old woman shot herself in the wake of an eviction attempt. The woman, from Akron, OH, survived, and has become a flash point for the debate -- she was mentioned on the floor of the House on Friday.

Foreclosures have all sorts of victims and we've been reporting on them since the beginning of the crisis, but the stories of real people may have gotten a little lost over the past few weeks as the banking crisis has spiraled out of control. How do you process the plight of one woman losing her home against the backdrop of a $700 billion rescue plan? Both are impossible to fathom. And this woman has not been the only one to come to national attention for attempting suicide -- there was a case back in July of a Massachusetts woman who committed suicide as she faced eviction.

Perhaps as Congress considers the big picture of the financial crisis, it's important that they are reminded of the very real human costs of our economic condition.

Real Estate Troubles

Mexican billionaire Carlos Slim speaks during an interview with foreign correspondents in Mexico City September 30, 2008. Private investors should take stakes in U.S. banks to save them from financial ruin, with the government buying failed mortgage debt only as a last resort, Slim said on Tuesday. REUTERS/Felipe Courzo (MEXICO)

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Rolando Gamez sweeps up litter on Wall St. in front of the New York Stock Exchange Tuesday, Sept. 30, 2008 in New York. A snapback of some degree wasn't unexpected as carnage on Wall Street often attracts bargain hunters. Still, questions remain about how Wall Street will proceed without a bailout plan in place to absorb soured mortgage and other debt from banks' balance sheets and restore confidence in lending. (AP Photo/Mark Lennihan)

Wall St. is shown Tuesday, Sept. 30, 2008 in New York. A snapback of some degree wasn't unexpected as carnage on Wall Street often attracts bargain hunters. Still, questions remain about how Wall Street will proceed without a bailout plan in place to absorb soured mortgage and other debt from banks' balance sheets and restore confidence in lending. (AP Photo/Mark Lennihan)

U.S. Senate Banking Committee Chairman Chris Dodd (D-CT) answers questions during a news conference, about the failure of a bill to provide a bailout for the current financial and banking crisis, on Capitol Hill in Washington, September 29, 2008. The U.S. House of Representatives on Monday rejected a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets. REUTERS/Jim Young (UNITED STATES)

Reuters

U.S. Senate Banking Committee Chairman Chris Dodd (D-CT) (L) and Senator Judd Gregg (R-NH) answer questions during a news conference, about the failure of a bill to provide a bailout for the current financial and banking crisis, on Capitol Hill in Washington, September 29, 2008. The U.S. House of Representatives on Monday rejected a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets. REUTERS/Jim Young (UNITED STATES)

Reuters

U.S. Senate Banking Committee Chairman Chris Dodd (D-CT) (L) and Senator Judd Gregg (R-NH) leave a news conference, about the failure of a bill to provide a bailout for the current financial and banking crisis, on Capitol Hill in Washington, September 29, 2008. The U.S. House of Representatives on Monday rejected a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets. REUTERS/Jim Young (UNITED STATES)

Reuters

U.S. Speaker of the House Nancy Pelosi (D-CA) listens to questions during a news conference, about the failure of a bill to provide a bailout for the current financial and banking crisis, on Capitol Hill in Washington, September 29, 2008. The U.S. House of Representatives on Monday rejected a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets. REUTERS/Jim Young (UNITED STATES)

Reuters