A former city employee recently lost his wife of 62 years, and now he’s
lost his mortgage, too. Hanover Community Bank reneged on a $271,000
loan that George Baumann, a Ridgewood, Queens native who now lives on
Long Island, had closed on six days earlier with his wife to pay off
his debts. After she died of a heart attack, the bank changed its mind,
according to the Daily News. Baumann, who worked for almost three
decades at the city’s Department of Environmental Protection, has a
credit score of 794 and lives mostly off of Social Security and pension
payments. The 30-year fixed-rate loan was to have a $1,475 monthly
payment. When contacted by the Daily News, a Hanover representative
said he would review the case. [NYDN]