Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: J. P. who wrote (11438)	7/1/2003 4:09:40 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

No, I'm saying that there are any number of terrible things that could happen to these people that would result in their inability to pay off the mortgage. Someone who has been totally responsible and hasn't taken on that kind of debt could have something terrible happen to them as well and lose their house even though they did everything right in comparison. Needless to say they are in much better shape than they were before the refinance. These things run in cycles. Debt builds up to the point where it can't be serviced, consequently it is either paid off or written off. In the middle ages people would build up debt to the Lord to the point where they didn't have enough to eat after paying the interest. But when the Lord died all debts were forgiven and people started from zero again.