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Registered
Join Date: Jul 2007
Location: Halifax, Canada
Posts: 1,216
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So she took out a mortgage and a line of credit and can't pay? So they want to evict her? I don't understand what is the big deal. From what I gather the home was already paid off seeing as it was bought in 1970. This article fails to mention if the woman has a job, or what she did with all the money.
Don't take out a line of credit and a mortgage if you don't have any sort of plan as to what you are going to do with the money and how you are going to pay it back. A 30 year mortgage for $45K is not exactly high monthly payments.
I don't understand how she is a 'symbol of the mortgage crisis' Can someone please explain this to me.
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