Fred Ecks (![[info]](http://p-stat.livejournal.com/img/userinfo.gif){kind=small} fredx) wrote,@ 2007-03-12 10:52:00 |
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California Report clip on foreclosures
Here it is:
http://www.californiareport.org/dom
http://www.kqed.org/.stream/anon/ra
It's a short clip; the foreclosures piece is the second segment:
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Foreclosures Mounting as Rates Rise
In the first 2 months of this year, banks foreclosed on nearly 6500 California homes. Thousands more homeowners have received delinquency notices, meaning they're behind on their payments and could eventually lose their homes. Critics say this is the ultimate result of a mortgage industry that in recent years pushed people into homes they couldn't afford.
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I think pointing fingers at the mortgage industry or at the borrowers is pointless (pun intended). The simple fact is that this is yet another example of why it's a risky endeavor to spend money before earning it. Debt-free life is, well, free!
Here it is:
http://www.californiareport.org/dom
http://www.kqed.org/.stream/anon/ra
It's a short clip; the foreclosures piece is the second segment:
--
Foreclosures Mounting as Rates Rise
In the first 2 months of this year, banks foreclosed on nearly 6500 California homes. Thousands more homeowners have received delinquency notices, meaning they're behind on their payments and could eventually lose their homes. Critics say this is the ultimate result of a mortgage industry that in recent years pushed people into homes they couldn't afford.
--
I think pointing fingers at the mortgage industry or at the borrowers is pointless (pun intended). The simple fact is that this is yet another example of why it's a risky endeavor to spend money before earning it. Debt-free life is, well, free!
