Mortgage mess hurts Main Street, beyond
Saturday, August 25th, 2007The walls are bare, the closets are empty, and Connie and Timothy Pent and their two teenage children are living out of boxes as they wait for a dreaded knock at the door of their three-bedroom house in Ocala, Fla.They’ve fallen behind in payments on a their home loan, and their lender told them in July that foreclosure was imminent.
“We thought we were fine,” said Connie regretfully. “You never know.”
An increasing number of homeowners and prospective homeowners are getting caught up in the fast-spreading mortgage crisis that is claiming victims from all income levels and demographic groups. Like the Pents, many are trying desperately to get their loan terms reworked but are finding it’s not possible in a tightened market.




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