Jan 28 2010
Game Over for the American Middle Class – Inflation Adjusted Wages up 20 Percent in Last 20 Years While Housing Costs are up 56 Percent and Healthcare Costs are up 155 Percent.
The struggle for average Americans to keep up is largely becoming an act of will power and force in this current grand recession. Now you wouldn’t think that there is a definite war raging against the middle class if you simply follow the mainstream media but the facts speak to a more distilled and corporatized [...]
Sep 13 2009
Interest Only Mortgage Time Bomb: $71 billion in Loans will Reset in next 12 Months. Total Loans Outstanding at $908 Billion. Average Balance of $324,000. Median U.S. Home Price $178,000.
Interest only (IO) loans seemed like a viable mortgage option when home prices were appreciating on a double-digit basis every year. The interest only loan allowed borrowers the option of making no principal payments for 5, 7, or even 10 years. Now why would someone not make any principal payment for such a long time? [...]
