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Rep. Richardson's Financial Report Could Shed Light on Foreclosure Woes

We may learn more about Rep. Laura Richardson's (D-Calif.) home foreclosure debacle on Monday, when House members' annual financial reports are due to be released publicly.

Surprisingly, Richardson filed her report on time rather than seeking an extension, her spokesman, William Marshall, tells us. But Marshall says he can "neither confirm nor deny" whether the disclosure report will reflect the full extent of the beleaguered congresswoman's financial woes, which include foreclosure on one home and defaulting on two others.


Rep. Richardson

Then State Assemblywoman Laura Richardson (Calif.) campaigns in June 2007, as she seeks election to Congress. (AP Photo -- The Daily Breeze, Sean Hiller)

Marshall declined to answer questions about how Richardson, who was elected to Congress in a special election last August, wound up in such dire straights. She lost her Sacramento home to foreclosure after failing to make payments, while she reportedly owed Sacramento County some $9,000 in property taxes and defaulted six times on two other homes in California along her year-long crusade from Long Beach councilwoman to state assemblywoman to U.S. congresswoman. (The foreclosure and defaults occurred around the same time Richardson loaned her campaigns for state assembly and Congress more than $177,000.)

Richardson, according to the Long Beach Press-Telegram, also failed to pay hundreds of dollars worth of car repairs to one mechanic, then ultimately abandoned the car at another auto body shop.

Now, the story has taken a new twist. The Los Angeles Times reports that the home Richardson lost in foreclosure could be returned to her, because the lender, Washington Mutual, filed a letter of rescission of the foreclosure sale and asked the new owner for the keys back.

"They took the property back, and they didn't even send back the money," the buyer, real estate investor James York told the Times. "It's clear what's happening is Ms. Richardson is abusing her political power and using it for her own political needs," he said. "You don't have to be smart to understand what's happening."

Richardson isn't commenting. Referring to the congresswoman's lender, her spokesman told us, "This is about Washington Mutual." He urged us to call Washington Mutual for comment but -- guess what? In a classic Catch 22, a Washington Mutual spokeswoman told us the company can't discuss the foreclosure sale because Richardson "has not provided us with authorization to publicly discuss her loan."

By Mary Ann Akers  |  June 11, 2008; 4:10 PM ET
 
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Comments

No doubt when Richardson gets her home back there will be $90,000 in the freezer.

Posted by: The Old Potomac Two-Step | June 11, 2008 4:49 PM | Report abuse

We knew something was different about her. This is a woman that sat with a group of African American religous leaders begging them to endorse Hillary Clinton over Barack Obama.

For all the minority children that would be inspired by an Obama success the conscious few in LA county were completely shocked.

This further proves how selfish and out of touch she is.

Her mom was a valiant and honorable woman. But Los Angeles politics is still entangled in nepotistic entitlement and under the table dealings.

Knowledge is power, thanks WP.

Posted by: Newz, Los Angeles | June 11, 2008 11:15 PM | Report abuse

Newz, it is sad that "minority" children have to base their level of inspiration on the color of their skin.

MLK was right. He WAS dreaming.

Posted by: Anonymous | June 12, 2008 1:04 PM | Report abuse

Not only has she stiffed the City of Long Beach, the State of California, and local repair shops, but according to today's Long Beach Press Telegram she failed to provide promised trips to DC for student contest winners. What will it take for the voters in her district to wake up?

Posted by: Ex LB guy | June 13, 2008 10:29 AM | Report abuse

She was terrible for the city of Long Beach and I vote 90% of the time for Democrats. So I can't be accused of being a Republican with an axe to grind.

Posted by: Ex LB Resident | June 15, 2008 5:28 AM | Report abuse

What will it take for the voters in her district to wake up?

Finding her in bed with a live girl or a dead boy.

Posted by: Anonymous | June 16, 2008 3:01 PM | Report abuse

anonymous poster above, that might help in her gerrymandered district

Posted by: Charlie | June 16, 2008 7:10 PM | Report abuse

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