Hello,
When i say trapped . I mean the people who would have rather rented . How should have stayed renting . But every where they turned they where told they should own their own home . To keep the boom going these people where baited into buying homes they could not afford. They didn't have th education to understand what they where signing.

There where millions of people who weren't trying to get rich quick. They where just doing what society told them. Getting slaughtered in the process.

Now there where a lot of people who bought two three or four homes. They couldn't afford . Trying to get wealthy the easy way . The took the risk and got nailed . To bad so sad .

So many of the financial and business books . Told people investing in real estate was the way . The boom went on a long while.This bust may last a while too. Then banks just had to write off. Pretty much all their profits for the last decade or so maybe longer. They willbe afraidto lendlike that again for a good 15 or 20 years.

Many of the people losing their homes are losing it because the payment went up and extra 200 or 300 dollars. Some went up a lot more. honestly in a time when the average job last two to three years. How smart is it to sign a 30 year mortgage ?

Ken