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Feb 11, 2012, 04:49:57 AM

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How one family's mortgage is linked to meltdown

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Topic: How one family's mortgage is linked to meltdown (Read 492 times)

Vidal

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Joined: Mar 2006
Posts: 495

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Gender: Female

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Feb 10, 2009, 01:50:41 PM

Here's a very interesting article from Reuters News about how the mortgage meltdown and forclosures can affect your family.

Quote

Cynthia Goldrick's daughter is in and out of the hospital for brain surgery, her mother has Stage 4 lung cancer and her father has moved into a home for the elderly.

So when the Goldrick family's adjustable rate mortgage reset while husband Patrick was off work for a job-related injury, it eliminated the thin margin between their income and the mortgage payment and put them on the road to foreclosure.

Full article: http://www.reuters.com/article/topNews/idUSTRE4BS01K20081229?rpc=64

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