Sunday, November 25, 2007 3:34 AM
By Joe Bel Bruno
ASSOCIATED PRESS
NEW YORK -- When Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 percent, he had a clear picture of how bad it could get.
His payment was scheduled to surge by an extra $1,500 in December. With his daughter headed to college next fall and tuition to be paid, he feared ending up like so many neighbors in Fort Lauderdale, Fla., who defaulted on their mortgages and whose homes are now in foreclosure and sporting "For Sale" signs.
Colombo did manage to negotiate a new fixed-interest-rate loan with his bank, and now he believes he'll be OK -- but the future is less certain for numerous others....
CLICK ON LINK FOR REST OF STORY
Wednesday, November 28, 2007
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment