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There are a lot of people out there that are losing their homes. Mortgages can be confusing things. My sis and her former husband had a mortgage on their home (at the time). They were stuck with a balloon payment, YUK to the extreme. I’ve also heard about variable mortgage rates. That is an ugly way to go bankrupt.

There is talk of fannie mae and freddie mac having trouble. some politicians want to help bail them out to save the homes of many Americans. For some it is too late, they have already lost their homes. There are some mortgage lenders that are still making loans. Some will refinance, which can help. Some won’t take the chance. I’m not in that particular boat, so I don’t know what people can do. Having a family and losing your home has got to be the worst nightmare possible right now.

I hope that I’m not being naive in hoping that things can be fixed. My husband and I rent where we live. Right now, moving is not an option because of our health. All we can do is pray for those in dire need. I’m not in the know as to how this all happened, but it is here and people are trying to adapt.

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This entry was posted on Friday, July 11th, 2008 at 10:58 pm and is filed under Business stuff, Life, People. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.