There are people who truly want to make their mortgage payment and who got a "legitimate" home loan. And not one of those variable mortgages that basically let anyone with a heartbeat get a house they knew they could not afford. Especially when that big payment was due 5 or 6 years later.Originally Posted by akrogirl
The people who ended up with a loan they couldn't pay for and the banks who made these loans along with the feds are the problem. A lot of people today live way beyond their means, credit cards, 2 or more car payments a refinanced house etc. When we applied for our home loan the mortgage people were surprised at our debt to income ratio, it was almost nil. Which made us qualify for a 5% APR interest rate 30 yr. fixed rate.
A lot of this homeless problems is drug and alcohol related. Homelessness is defined as not having a permanent residence, living in a hotel or motel, in a travel trailer or living on someone couch as well as living in a tent or car.