Dawn Welsh believed that she owned her house free and clear. As is the practice in the mortgage industry, companies buy and sell equity instruments in connection with real estate. In this case, Wachovia alleges that Ms. Welsh never fully paid off one of these equity instruments and therefore, it must foreclose and reclaim the property. This morning, the Jefferson County Sheriff's Office raided and arrested Ms. Welsh.
I guess it is okay for bankers to take trillions offshore, but if there is a dispute over a $125,000 home in Middle America, then we need to bust down doors and send in the S.W.A.T.
Here is the link to the MP3 audio of Ms. Welsh's phone call to the Power Hour: GNC Live
To email the Sheriff to get his perspective, click below:
Email Sheriff Oliver "Glenn" Boyer
UPDATE1: This is the same Sheriff Boyer who was a willing member of then-Presidential candidate Barack H. Obama's "Truth Squads." Click HERE for the video of Sheriff Boyer's interview with KMOV discussing these Truth Squads.
UPDATE3: Here's the Alex Jones link.