by Rita Bradley
I was very sorry to hear about the possible foreclosure of your home. I'm sure this is a very unpleasant time for you.
I'm sure none of it is your fault. Your friends and neighbors were on their way to becoming millionaires, on paper at least, from owning real estate. You'd have to have been crazy not to take advantage of such an easy money making scheme. The friendly loan officer (that called you one night while you were eating dinner) said that real estate would NEVER go down in value! And banks really wanted to lend you the money. They visited the mortgage broker offices every week offering fabulous programs for their clients. And the fact that your job pays just a bit more than minimum wage was a simple obstacle to overcome. You just got a “stated” loan and stated that you had enough income to afford the house of your dreams. I understand, really I do.