- Obama shortens sentence of inmate from Cape (1/19/17)9
- Jackson police describe night of anger, car crashes, drug possession by 18-year-old (1/22/17)5
- Area hospitals hope a box helps prevent infant deaths (1/19/17)6
- A message from heaven (1/23/17)
- Local students to perform with choir at inauguration (1/19/17)3
- Southeast to lose $3.5 million from state in budget cuts (1/18/17)21
- Subjects of interest in 1992 killing take polygraph tests; results not revealed (1/18/17)2
- Meat-processing plant faces $70K penalty for Clean Water Act violations (1/17/17)4
- Area residents among those attending inauguration, women's march (1/22/17)91
- Comedian, cancer survivor Tom Green headlines sold-out Cancer Center benefit (1/22/17)
One of the biggest news stories of 2007 was about home mortgages. Much of the blame for this economic crisis has been placed on lenders willing to make easy loans in a booming housing market. Some the blame, however, needs to be placed on borrowers who still don't understand the "no free lunch" school of economics.
Economists are reluctant to say officially that today's financial situation is a recession, but for thousands of Americans who thought they "owned" their over-mortgaged homes, the future is even bleaker than a recession. They will lose those houses and likely everything they've invested in them.
Buyers who take on huge financial responsibilities without taking stock of what easy credit can do to them have set themselves up for disaster.