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

To: John Vosilla who wrote (68508)	12/11/2006 10:54:38 AM
From: CalculatedRisk	Read Replies (1) \| Respond to of 306849

A loan that'll get ugly fast By David Streitfeld, Times Staff Writer December 11, 2006 latimes.com EVERY day, Will Hertzberg owns a little less of his three-bedroom house in Corona. Like hundreds of thousands of other homeowners around the state, Hertzberg has a mortgage that lets him choose how much he pays each month. Like many of them, he always chooses to pay as little as possible. For the moment, this allows the 56-year-old Hertzberg to continue living in his tract home despite being only marginally employed. But his debt is swelling, and his mortgage company controls his fate. "I am rather screwed," he said. <MORE>