Monday, April 09, 2012

The Great American Foreclosure Song



Although I paid off my mortgage and never had to deal with foreclosure, the housing crisis still affects me, as my old house has been on the market for more than three years now. At the original asking price, potential buyers could find plenty of cheaper homes. As we dropped the price, we found that realtors don't want to bother with it, and banks don't want to lend smaller amounts. Sigh. Meanwhile, we rented it out. The tenant doesn't take care of the property as stipulated, and can't come up with the rent, either. The rent we received last year caused me to lose out on twice the amount I would have received in EITC. (via The Daily What)


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