Today's stupid "Boston Globe" trick involves, again, not telling the whole story. Today, the Boston Globe's Travis Anderson tells us that State Representative Marie St. Fluer has been hired by Moron .. (I'm sorry) Mayor Menino to over see the cities "strategic investments" in ".. education, immigration, and anti-poverty programs." The mayor, the governor, Seth Gitell, a spokesman for House Speaker Robert A. DeLeo speak of her accomplishments .... but she also has an, how shall I put it, irregular financial history. Might not this history be somewhat of a reflection of her ability to oversee said "strategic investments"? So let me tell you what the "Globe" doesn't want to tell you.
Ah, Ms St Fleur, where to begin ... how about the beginning. We'll start with when, she and her husband Jean Lauture buy a two family home on Old Morton Street for $176,500 with a first mortgage to First National Bank of Boston for $141,200 and a second to the seller for $17,600. It takes them a whopping 7 months before they are far enough behind in their mortgage payments that FNBOB records an notice of foreclosure on 6/28/1990. Then a second notice on 4-30-1992 (tell me when this gets boring), a third on 1/4/1993 and Bank of Boston takes the property back with a foreclosure deed. Then Ms St Fleur, etal declare bankruptcy on 2-5-1993.
Oh, but we're just getting started, you see, on 6-14-2001, Marie and Jean then buy 45 Hartford Street from Paul L. St. Fluer for $100 (must have been a family member) but get a $168,000 mortgage from First Eastern Mortgage. But still they aren't paying their bills because on 12-18-2002 The City of Boston files a Tax Taking because they haven't paid their real estate taxes.
Marie finally takes full control of the house with a deed from her husband on 12-2-2004 but also borrows more money with a $279,500 mortgage to sub-prime lender Option One Mortgage. She ups her principal again on 2-23-2006 with a mortgage to Tremont Credit Union for $370,000 and follows it with a Line of Credit to TCU for $25,000 more. She then signs an agreement with TCU to modify her LOC from $25,000 up to $30,000 AND another agreement to forgo her principal payments for May and June 2007 AND capitalize three months of principal and add that additional $6,400.26 to the back end of her mortgage payments, both on 9-14-2007. Then .... take a deep breath, I'm almost done ... she refinances AGAIN on 6-26-2009 with Tremont CU with a new first mortgage with a principal of $423,000!!
So, while the financial markets are collapsing and property values dropping, this "genius" keeps adding more and more debt!!!! Maybe she can tell others, in her capacity overseeing "anti-poverty programs", how they can do as she did and avoid paying banks back the money they loaned her, then go on to borrow and spend every penny of equity in her subsequent home, not pay real estate taxes, and STILL end up with an $120,000 job. Hell, I'LL sign up for THAT anti-poverty program!!!
Oh, but we're just getting started, you see, on 6-14-2001, Marie and Jean then buy 45 Hartford Street from Paul L. St. Fluer for $100 (must have been a family member) but get a $168,000 mortgage from First Eastern Mortgage. But still they aren't paying their bills because on 12-18-2002 The City of Boston files a Tax Taking because they haven't paid their real estate taxes.
Marie finally takes full control of the house with a deed from her husband on 12-2-2004 but also borrows more money with a $279,500 mortgage to sub-prime lender Option One Mortgage. She ups her principal again on 2-23-2006 with a mortgage to Tremont Credit Union for $370,000 and follows it with a Line of Credit to TCU for $25,000 more. She then signs an agreement with TCU to modify her LOC from $25,000 up to $30,000 AND another agreement to forgo her principal payments for May and June 2007 AND capitalize three months of principal and add that additional $6,400.26 to the back end of her mortgage payments, both on 9-14-2007. Then .... take a deep breath, I'm almost done ... she refinances AGAIN on 6-26-2009 with Tremont CU with a new first mortgage with a principal of $423,000!!
So, while the financial markets are collapsing and property values dropping, this "genius" keeps adding more and more debt!!!! Maybe she can tell others, in her capacity overseeing "anti-poverty programs", how they can do as she did and avoid paying banks back the money they loaned her, then go on to borrow and spend every penny of equity in her subsequent home, not pay real estate taxes, and STILL end up with an $120,000 job. Hell, I'LL sign up for THAT anti-poverty program!!!
THIS is the person the city hires to oversee "strategic investment"??? I wouldn't trust her to buy lunch!
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