American Dream Or Nightmare?
Posted on April 15, 2008 - Filed Under Business | Leave a Comment
The American dream has always been one of prosperity and security. Owning a home and having your own space. In recent years the real estate industry has seen more of those dream turn into nightmares then was thought possible. Foreclosures are at an all time high and people are losing their homes, mostly due to poor planning and loan programs that make it difficult for owners to make their payments. Many of these loans are adjustable rate mortgages that can rise drastically without notice. Buyers are taking these loans because with the rising cost of housing it is becoming harder and harder to secure the traditional FRM amortized loans.
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