Foreclosure: A family saga
Unfortunately, foreclosures are no longer reserved for the sub prime borrowers. Now it has spread to the mainstream. All too often, it takes a few of bad months before the borrower falls so far behind, they are unable to catch up.
Besides job loss, catastrophic medical expenses is another common reason why homeowners are unable to make their mortgage payments. This is a why we should have health care overhaul to make sure people are not forced into foreclosures or bankruptcies because of medical expenses. The saga this family is living is being repeated by many other families here in Silicon Valley.
