THIS is one reason I am thankful for moving to Oklahoma City. We moved from one of the worst Cities For Homeowner Debt... to one of the best.
According to Forbes....Coming up SECOND was our hometown: Denver, Colo.
"Cloudy Skies Over Parts Of Colorado Consider Denver, where 29% of mortgage holders have either a home equity loan or a second mortgage, or both--the highest rate in the country. Like home equity loans, second mortgages are often taken out for immediate cash or, in many cases during the housing boom, as a way to cover a down payment. Borrowers armed with such "piggyback loans," bought homes without any money, only credit.
Complete List: 50 Worst Cities For Homeowner Debt
That's a good deal when values are rising. When they fall, these homeowners are particularly vulnerable to foreclosures because without any equity in their homes, market downturns put them underwater. Denver has the country's ninth-highest foreclosure rate, despite a healthy economy in which the job market is growing."
I'm enjoying my big beautiful home, and the low mortgage that came with it. See, it's articles like this that remind me that I don't miss "home" as much as I thought I did.
Ps. Yes, I'm alive and no, I didn't abandon my blog. ((SORRY)) I'm not really sure why I haven't been posting, but I promise not to do it again anytime soon.
Labels: Product and Company Reviews