The CotoBuzz Journal, Community Journalism

June 2008 ISSUE

We do not make jokes, we simply watch the LA Times, the Orange County Register and CID/HOA board of directors and report the facts!

The Culture Thing in the California Capitol

May 22, 2008

Earlier this week, the Capitol Weekly reported that newly elected Democrat from Long Beach, California Congresswoman Laura Richardson walked away from the mortgage on her $535,000 Sacramento home, letting the house slip into foreclosure and disrepair less than two years after she bought it with no money down.

"While being elevated to Congress in a 2007 special election, Richardson apparently stopped making payments on her new Sacramento home, and eventually walked away from it, leaving nearly $600,000 in unpaid loans and fees," the Capitol Weekly reported

While Richardson declined to comment for the Capitol Weekly story, her office issued a written statement Wednesday afternoon in which she denied that her $535,000 Sacramento home had slipped into foreclosure, saying she had renegotiated her loan to keep the home. The house "... is not in foreclosure and has not been seized by the bank," Richardson, said in a statement. "I have worked with my lender to complete a loan modification and have renegotiated the terms of the agreement, with no special provisions."

The Capitol Weekly also reported that Richardson's residence quickly became an eyesore, angering neighbors. The report says she recused herself on two key house votes on government efforts to address the foreclosure crisis.

Might this be one more instance of that Culture Thing? – Culture change is needed; it is just not my job!

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