My Life in Argentina and Beyond

I have read today´s op-ed by Sheila Bair and I agree. Rates should be lowered. Not everyone has equity to help them refinance. In my own case, there were two loans for a $170,000 condo in Atlanta, GA. One of these loans was for $134,000 at 9.75%. the other for $36,000 at 13%. I tried refinancing time and time again, but shortly I bought the condo, I found out that I had overpaid by at least $20,000, so refi was not an option. Unfortunately, my condo foreclosed in November 2005.
I urge those people who have no equity to call their lender and do everything possible in order to save their homesI did, but at that time there was no talk of a mortgage crisis, subprime or otherwise. Foreclosure is a terrible thing. It affects a person, that person´s family not only financially but also psychologically and emotionally. It is not something that a person can get over quickly. Sometimes you never get over it. I know that I am still struggling and I do not others to struggle. Eugenia Renskoff