Foreclosures Lead to Abandoned Animals
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Damn bottom feeders.[:(!] 0 -
Is it people trying to live beyond thier means.
or is it the varible interest rate?0 -
People bought at the high point under the assumption that house prices would continue to rise, at which point they could use the added equity to refinance. In short, they bought above their means and counted on a continued rise in value to put their house within their means. When house prices leveled off, or dropped in some places, they were left with a house they couldn't afford that was now worth less than they paid for it. 0 -
quote:Originally posted by 46270
Is it people trying to live beyond their means.
or is it the variable interest rate?
Generally speaking people take adjustable interest rate loans because they are trying to live beyond their means.
You can buy more house with an adjustable mortgage than you can with a fixed rate. Others have refinanced with an ARM to consolidate debt, then instead of repairing their credit within the fixed term of 2-5 years have failed to do so. Often their own fault, sometimes not.0 -
a few years back me and the wife purchased a foreclosed home, when we first went in it looked like Russian spies looking for microfilm had went through a normal home tearing everything to shreds, apparently they moved out with the clothes on their back, as we waded knee deep in junk, i found that they left their cat their, it was dehydrated flat as a pancake under a couch, we proceeded through out the house, we went in the master bedroom, everything there but destroyed, a closet full of clothes, i saw what resembled a white rabbit fur, it looked like a rabbit scarf, my wife was behind me so being the joker i am i picked it up, and yelled ANOTHER CAT while tossing it in her direction, well the bad news was it was a once beautiful white Persian cat that was now mummified through dehydration
people can be real asses0
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