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Wednesday, October 17, 2007

A sad tale, but now we know and knowing is half the battle.

“How to lose your home in a few easy steps” is an MSNBC article about a San Diego woman who lost her home "in part because of the type of mortgage she took out."

It's the sad tale of over financing and under appreciating. The surprise that refinancing isn't going to be an option and therefore making a now higher minimum payment is going to be impossible. And then the reality that you can no longer afford your home, when you thought you had it in the bag, when you thought that all your hard work would pay off, is heartbreaking.

Some of it was lack of education (and easy liberal answer, so I've heard) but it's the truth. And maybe that's what comes out of this, people are educating themselves and the news media is actually providing the means to do so. Check it out Google style, and then wait on it.

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