The Growing Debt Problem - Has It Gone Too Far?

The majority of financial professionals have known for some time, yet a few have been hesitant to read what it says. Many residents of the United States are getting deeper into debt. Part of this problem likely comes from the cost of owning a home. For a rising segment of homeowners, the financial burden of owning a home is forcing a difficult situation into an impossible one; creating a “foreclosure crisis” that will likely last many years more.
Earlier this year, current numbers released by the Government are showing an alarming growth in the rate of foreclosures. In some areas, of all homeowners who were extended sub-prime loans, the foreclosure rate is as high as 14-20% when 4-6% is considered “healthy”.
This information has been all over the news â View the rest of this article