Report: Rep. Richardson had eight defaults on three homes

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The latest on the Laura Richardson mess, from the enterprising Gene Maddaus at the Daily Breeze: ‘Rep. Laura Richardson, D-Long Beach, whose housing woes have been national news for the past week, defaulted a total of eight times on three properties since 2004, a thorough review of county records indicates.’

‘Records show she has defaulted five times on her primary residence in Long Beach -- including three in the last year, as she diverted her private resources into her campaign for Congress.’

Maddaus reports that Richardson’s trail of missed payments dates back to 2004 -- long before the run of job-hopping she has said was partly to blame for her various missed mortgage payments.

Analysis: This began as a serious story about a member of Congress and how she handles her personal and campaign funds. But it’s morphing into a garden-variety story about a person who has trouble paying her debts and happens to be an elected official. I still wonder, though, why her lender agreed to modify the loan on her Sacramento residence, which was her third house.

Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Photo Credit: L.A. Times