The New York Times has an article that tells the unfortunate tale of Diane McLeod and her love affair with debt. She started out “debt free” when she got married, but after a divorce she’d managed to accrue $25,000 in credit card debt. Despite not having a down payment or any assets, Diane was given a $135,000 mortgage. Over the next few years, illness, underemployment, and shockingly irresponsible spending combined disastrously with the bank’s willingness to refinance her loan as her home appreciated (for a fee, of course). 5 years later, Diane owes $237,000 on her mortgage. She’s in foreclosure now, and a recent sheriff’s auction of the home did not draw a single bidder. A similar house down the street recently sold for $84,000 less than she owes on her home.
values
Cheapest Cars to Own Over 5 Years
By 10.20.06
“Now in their 20th year, IntelliChoice’s Best Overall Value of the Year awards reflect the only data-driven automotive analysis focused solely on recognizing vehicles that will cost significantly less to own than would be expected at their purchase prices.”
