What your bank does not want you to know…
Special to jongriffin.com
We appear to be starting a period of uncertainty, with four key factors negatively affecting the economy; increasing interest rates and depressed home values, higher credit card minimum payments, swiftly increasing fuel costs and the recent Wall Street crisis. The results of these could spell financial ruin for many families already struggling on the edge of bankruptcy.
The current credit crisis was fueled by Government home loans being given to low-income families for over-valued homes and now the storm has hit many people find themselves with ‘negative equity’ – their home is worth less than their mortgage!