Angela Natividad's Live & Uncensored!

20 March 2008

Marketing Borrowers into Foreclosure

Sit down, relax and absorb The Subprime Primer. Insufficiently gloomy? Read BusinessWeek's "Recession Time." It's not all a big excuse to drink; courses of action are provided if you happen to be in dire straits.

Like a lot of other people out there, I took a gamble against the future and bought a place I couldn't quite afford at the time. That was three years ago. The lenders aren't all bad; after hashing out options, I managed to crawl out of precarious ARM-mode with a low fixed rate. I decided to hold onto the property.

But as coverage of the recession and mortgage woes increase, I find myself rethinking that choice about 250,000 times a day. The water is hot. The fear-laced tempo is speeding up. This isn't 20 shares of Apple on the stock market; this is a house.

How many people will shortsell just because they're scared?

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