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Facing the Mortgage Crisis
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Calendar of Community Events
Map of Community Resources
July 10, 2008 at 4:32 pm
I have been having trouble understanding why the banks at this point in time with so many houses dumped on the market think it is a good business strategy to raise homeowner’s variable rates instead of leaving them at a rate in which the homeowner can pay. Getting 6% and a monthly payment has to be better for their business than raising rates to an unpayable amount so that folks lose their homes and then the bank is stuck with another house to sell in a glutted market.
Does anyone have some comment on this?
I am fortunate in that i am not in this bind, but I want to see our communites strong.
July 17, 2008 at 9:55 pm
From my own deep trouble waters,I and my husband can say honestly, besides the rate on loans going up, there is also the issue of job loss,some folks may work thier way thru the morgage melt down if they hadn’t lost the good paying job they had when the morgage was taken out…… also the rise in gas and all the things linked to the high gas prices doesnt help, we all have alot on our plates right now but there is help. Seek it out now,dont wait or give help.
July 18, 2008 at 1:52 pm
I had no idea the foreclosure boom had hit your are so hard.
January 3, 2009 at 4:30 pm
I don’t think that this market will hit bottom for at least another 2 years.
January 19, 2009 at 1:06 pm
I think it’s time to get used to the idea of crisis, because thats going to be the life in the future.
February 25, 2009 at 2:29 am
I agree with Sherry.. it will certainly not be within the next 2 years.
March 19, 2009 at 7:39 pm
Way to go Sherry!
March 30, 2009 at 6:35 am
Light a candle, pray for all, HAVE FAITH