Earlier this week, ACORN activists broke into a foreclosed home in Baltimore. With a mob cheering and camera crew taping, ACORN leader Louis Beverly busted a padlock and jimmied the door open at 315 South Ellwood Ave. The home once belonged to restaurant worker Donna Hanks, who assailed her evil bank for raising her mortgage by $300 and leaving her on the street. “This is our house now,” Beverly declared with Hanks by his side at the break-in.
What ACORN didn’t tell you: Hanks’ house was sold in June 2008 for $192,000. She bought the two-story home in the summer of 2001 for $87,000. At some point during the next five years, she re-financed the original home loan for $270,000. Where did all that money go? (Hint: Think house-sized ATM.)
The property initially went into foreclosure proceedings in the spring of 2006. Hanks soon filed for bankruptcy and agreed to a Chapter 13 plan to pay back her bank and other creditors.
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