This is the worst, in a crowded field:

Simeon Ferguson was born in Jamaica in 1921. He moved to the United States in the mid-1960s. A few years ago, his behavior began to change. He began asking the same question over and over. He visited a dying daughter in Jamaica, but then forgot he’d visited her. He was suffering from dementia.
By 2006, Mr. Ferguson had been living in his house in Brooklyn for more than three decades. He was 85 years old, living on a fixed income of $1,126 a month, and had a $360,000 mortgage with a fixed interest rate of 5.95%.
According to a lawsuit filed in federal court in New York, a telemarketer solicited Mr. Ferguson to refinance his mortgage. He told a neighbor that he was getting a 1% interest rate.
The loan had an initial teaser rate of 1.25%, but jumped to 7.138% after six weeks. His initial minimum payment was $1,482 a month, already more than his monthly retirement income. In early 2007, the gap grew even larger, with his minimum monthly payment jumping to $1,903.
It was a loan that was “patently unsuitable” for Mr. Ferguson and “virtually certain to result in foreclosure,” the suit alleges.
According to the lawsuit, the loan was made under an IndyMac “stated income” loan program for retirees, which makes no effort to document borrowers income or determine whether they can afford the deal. A hallmark of the program, the suit says, was that IndyMac refused to take loan applications that made any mention of the borrowers’ income, “thereby encouraging mortgage brokers to extend unaffordable loans while attempting to duck accountability by deliberately remaining ignorant of the borrower’s ability to pay the mortgage.” In fact, the lawsuit notes, IndyMac specifies that “the file must not contain any documents that reference income or assets.”
In the end, the suit claims, the loan was a scheme targeted at retirees on fixed income, designed to make loans that strip equity from the borrowers homes and fatten IndyMac’s bottom line.
It wasn’t until Mr. Ferguson went into the hospital with a bone infection in May 2006 that one of his daughters took over his financial affairs and discovered the loan. When she asked him why he’d taken out an adjustable rate loan, he insisted he’d gotten a low-interest fixed rate one.
“It’s not that my father went out to buy a home he couldn’t afford, that’s not what happened here,” the daughter, Karlene Grant, said. “Somebody solicited him and made him think he was getting a better deal. Then they made some money and ran.”...