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Oaktree Capital Management

'Vulture capital' firm preys on Baltimore

'Vulture capital' firm preys on Baltimore

In 2010, Joann Rodriguez suffered a health crisis precipitated by her multiple sclerosis. She could no longer keep her job with the AARP, but it took her two years before she received any disability benefits. After draining all of her retirement savings, she finally fell behind on her mortgage.

Three weeks ago, Joann came home to find a note taped to her front door. It said that she has until March 28th to vacate her home. Joann has tried to negotiate a modification that would allow her to pay off her mortgage and stay in her house, but instead, her house is being foreclosed on by a Wall Street vulture capital fund called Oaktree Capital Management. Instead of negotiating, Oaktree...