From USA Today, we have Mortgage crisis: Home loans are harder to get.
Patrick Jones, a 49-year-old baker in the Denver area, bought his home three years ago and has paid his mortgage on time every month.
This month, his adjustable-rate loan reset for the first time, to $1,800, up $450. Loan terms in the current market mean that he can't get relief if he were to refinance.
"Now, I'm just barely making it," he says. "I used to have a steak once or twice a week; now, I'm going to have hot dogs and beans. We used to go to the movies, but we're giving that up."
But, but, but...
Aren't you proud that you "possess" your "own" home? Whatever happened to the "pride" of ownership?
Congratulations! You're part of the American Dream.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment