posted on Mar, 29 2007 @ 08:37 PM
The problems is that in order for many Americans to own a home they don't have any choice but to go for the variable rate loans, in hope that they
will be able to secured a better fix rate later on.
But because our economy is nothing but a dream and we have been lied so much about how good it is, more often than not this people with less than
perfect credit get stuck with the variable rates.
In my neighborhood I decided to find out how many foreclosures we have, I just came to the realization that both my closes neighbors had gone into
foreclosure and in my street is about 3 houses like that.
What this does to my home? it brings the value down, meaning that if I want to sell I will be losing money.
The housing business has been allow to go on and on with not restrictions like corporate America.
They win, while we the regular joes lose the American dream.
When people find themselves without home they become homeless so in the next year we are going to have an increase of homeless people in our nation in
Now corporate America wants to fire people so they can re hired for less pay . . . all this problems on top of each other is going to have a domino
But is OK, our government tells us the economy is doing fine, you may be homeless and with lower pay, but you still can charge on credit and keep
[edit on 29-3-2007 by marg6043]