I almost puked in my mouth reading that. The lady they profiled has no business owning a house...especially if my tax money is at stake! Some funny blurbs:
That was the case for Bernadine Shimon. Like many Americans, Ms. Shimon has recently been through some rough times. <strong>She lost a house to foreclosure, declared bankruptcy</strong>, got divorced and is now a single mother, teaching high school English in a Denver suburb.
<strong>She wanted a house but no lender would touch her.</strong> The Federal Housing Administration was more obliging. With the F.H.A. insuring her mortgage, Ms. Shimon was able to buy a $134,000 fixer-upper in August.
?The government gave me another chance,? she said.
Any more than that and Ms. Shimon, 45, would still be a renter. As it was, <strong>she cashed in her retirement savings account to come up with the necessary funds. She did not have enough to spare for closing costs, so her mortgage broker arranged a deal where the charges were wrapped into the loan at the cost of a higher interest rate</strong>. She cried when the deal was done.
The house was empty and trashed. Slowly, she is trying to bring it back to life. <strong>She spent the first few weeks picking up garbage in the backyard</strong>.
Is Ms. Shimon a good bet? Even she has no easy answer. <strong>Her mortgage payment, $1,100, is half of what she takes home every month</strong>. It is not easy to make ends meet. Teachers can get laid off like everyone else.
This country is getting lamer by the second!!!!!!!!!!!!!!!!!!!!!!!