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Honey, They're Taking the House! |
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_POSTED_BY admin
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Monday, 28 April 2008 |
 wake at the house party by autotelic The housing crunch is starting to leap the tracks and hurt middle class America with many doctors, lawyers and other middle income professionals caught between rising mortgage payments and falling house prices raiding their nests eggs and pension funds to cling on to their homes. In addition to confirming that the housing crisis is creeping up the income scale this trend, although its not clear how widespread it is yet beyond those areas with deep housing problems, , is also ringing alarm bells as drawing from tax-deferred savings accounts and 401(k) plans could have profound effects on taxpayer welfare, social security and employment patterns, economists and financial advisers said with massive fees , penalties , tax liability and losses instead of security ahead for those who borrow to cling on to their homes but then default on loans through losing their jobs or other economic factors beyond their control.
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Last Updated ( Monday, 28 April 2008 )
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