OhioMT

People were talked into getting loans by their realtor and lender, BUT they would have to know that if they are bringing home $3000 a month that they can't afford a $2000 mortgage and that if they get an adjustable rate that it's just going to go up from there.  That's just common sense.  When I bought my first home there was a formula the lender worked with (I think your house payment could be 30% of monthly net).  I feel bad for these people but sometimes there is no one to blame but yourself.

Things are getting very tight around here.  We put a lot of thought into everything we want/need to buy and usually end up without it.  Instead of taking a 2-week vacation this summer, we took a 2-day vacation (that sucked).  We are very fortunate in that my husband and I have decent jobs that pay the bills.  I have been working at home for 12 years so we have been saving on gas, lunches, clothes and wear and tear on the car.

I think things will get a lot worse before they get better.  I just continue to count my blessings because I know there are people worse off than I am.

• This may be to personal for some of you but... - sm
  • It hasn't too much, except in the 401(k)... - happymt
  • Since June of 2007, my check has been - pisspoor
  • Well, I DID lose 10 lbs. this summer without even trying- - it's called the 'Empty-Cupboard Diet'
  • get real - anon
    • I'd kind of have to agree here. - If the OP has 2 homes to maintain, she shouldn'
  • For my family - making changes
  • FYI - sm
  • And your point is what? I've been hanging out SM - Dr. Dofiddle
  • I don't understand how people were dumb enough - to agree to an ARM to start with
    • Completely agree! People should be - smarter than that - NM
      • I agree also...that is the reason for so many foreclosures now... - MtMommyof2
        • It was our government that got those - can't blame the people
          • Really can't blame the govt on this one - sm - money smart
            • Agree with most of your post, but... - me
          • oh please - cj
            • I do agree with you, but I think some - of the problem (a small percent)
          • I don't want to bail them out of their mistake! - sm
          • I agree but also the people had to be a little bit smarter and say... - MtMommyof2
          • OhioMT - anon
            • at least you got a vacation!! - nm

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