The Hidden Homeless

SoOCOwner_IHB

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I happened to catch this last night on So Cal Connected. It's about middle class people who ended up homeless.



<a href="http://kcet.org/socal/2009/11/hidden-homeless-mortgage-scams-steve-lopez.html#">Hidden Homeless</a>



The first couple's problems were a typical case of overspending. They moved up to a bigger house they couldn't afford then began pulling money out. At one point he said something that was very honest and I have always known and espoused whenever I'm asked advice. He said that they were never realistic about their situation in life and led more of a "wishful thinking" lifestyle - hoping that things would always work out. He made this realization too late, but at least he finally "got it". Fortunately, his epiphany was something I've known all my life. You have to be realist about your education level, future earning capabilities, lifestyle, etc. before you plunk down big bucks to buy a home that you may not always be able to afford. Do you want to be in your 60's and still paying down a mortgage? What if you purchase a home dependent on two incomes and then your spouse decides to stay home with the kids? What if your high-paying job goes away? So many people do not ask themselves these questions. Humility is not a bad thing.



BTW, I had trouble with this video in IE. Had to use FireFox.
 
Being in your sixties and still paying down a mortgage is very common, methinks. If you buy at 35 years old, a 30-year loan only matures at 65.
 
[quote author="Geotpf" date=1258766215]Being in your sixties and still paying down a mortgage is very common, methinks. If you buy at 35 years old, a 30-year loan only matures at 65.</blockquote>


My mortgage will be paid off when I'm 55. It just takes planning.
 
I watched this last night. It was everything I could do to keep from taking a baseball bat to my television.



There are people on this planet who deserve my empathy. These people are not in that group. Their wounds are all self inflicted.
 
[quote author="traceimage" date=1258786526]I had a senior citizen homeless woman ask me for money the other day in McDonalds...in South Coast Plaza.</blockquote>


Oh, really? That's where I get my McD's coffee. Hmm.
 
I find it amazing how few truly sympathetic cases the media can find. There simply must be someone with a story where you say "Wow, they didn't really do anything wrong. They tried to be responsible and lost their home anyhow"
 
But is that what the media is really trying to do? Make you feel sympathy, or give you someone you might identify with to scare you? Watching that video was like watching Dr. Phil. Same kind of story, too many vehicles, living high on the hog, now living in a trailer in their parents' backyard. It has to be a conscious choice to run with that story instead of the (relatively few) cases where you'd actually feel sorry for the people involved.



Maybe they could do us all a favor and remind everyone who's really paying for their defaulted mortgages and decisions to stop paying but live in the house rent free for as long as possible. *shakes fist*
 
[quote author="traceimage" date=1258786526]I had a senior citizen homeless woman ask me for money the other day in McDonalds...in South Coast Plaza.</blockquote>


I've seen quite a few homeless people a few blocks down on Bristol outside of the Vons and the Trader Joes.
 
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