American Dream, Economic Nightmare - Part 1

http://www.chs-law.com/bankruptcy.html

Nationwide, people are having a harder time making ends meet. Record foreclosures, lost jobs and rising prices have many San Diego families fearing they may lose everything.

In Part 1 of a special 2-part report, Ed Lenderman examines the crisis.

Category:

News & Politics

Tags:

• kusi
• bankruptcy
• foreclosure

[Artorioux]

90% LTV is not 'underwater'....she bought a house that is TOO expensive for her...her fault. back to an apartment. 3 loans...so she couldnt affort to begin with...she needed three loans...now she wants to keep something she could never have owned to begin with...

instead of saying i made a mistake i cant afford...she says they did it to me...i couldnt read all the papers...wtf...

[chadgresham]

Not everyone bought homes they could not afford. I am facing losing my home at this time. I could afford my home easily when the economy was good. But now I am facing a balloon payment on a second loan. I did not know that this loan had a balloon payment when this loan done. I blame myself but at the time I was a 22 year old kid who did not know better.

[gothicprincess52]

here in georgia, thousands of people bought homes they could not afford, just like this lady. and just like this lady, they are crying that this was "done to them". i dont get it. i have good credit and when i bought my house it was for a lot less than what the bank was willing to lend me. i will be the judge of what i can afford, not the bank or some mortgage broker.