CNN's Lisa Sylvester talks to a retired paramedic who struggles to make ends meet as family net worth drops.
RELATED STORY: Family net worth plummets nearly 40%
People still want to buy a home,the only fiance available is FHA, and VA both are very hard to qualified for,the underwriting are under very strict control by the Dub's and Frank law which went over bored with financing regulation on home finance. They wanted to punish someone so they they went after the home buyer instead of Wall street.
Too many home buyers bought homes without reading their entire or any part of their buyer documents, including their deeds, or without retaining attorneys. Consequently buyers bought homes financially over their heads and with documents totally in favor of the sellers. Don't blame the sellers and the banks.
The rich made big money and still are.They are buying repo homes at cheap prices and keeping their companies at minimum help,plus all of the good jobs are overseas. A lot of people have given up and the government is totally at fault for letting it happen and drag on.Jim Thomas Phx.Az.
The bad numbers keep piling up. How are all the Obama enthusiasts going to spin this off?
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