Oshawa - "My spouse is a financial planner, working almost exclusively with middle class working families, and the horror stories I hear are unbelievable."

This anecdote from Oshawa is from somebody who sees ‘horror’ for some in the future. -vreaa

‘From Canada’ at G&M 15 Dec 2009 8:11 am writes -

“My spouse is a financial planner, working almost exclusively with middle class working families, and the horror stories I hear are unbelievable. People living in houses they bought 10 years ago owing more than they originally paid due to refinancing for one reason or another. Young couples buying homes with 5% down, 35 year amortization, with mortgages totalling 6 to 7 years total income because the interest rates are so low that they now qualify for larger monthly payments.”

[Via http://vreaa.wordpress.com]