Thanks for your nice comments and reading my blog. What kind of loans do you have on the houses? Are they adjustable rate? What if you got a 30 year fixed rate? Before you sell any more property at a loss, check with the banks and tell them what you want in the way of a mortgage. The last thing the bank wants is a non-performing asset and that is what a mortgage that doesn't make payments is. If you are interested in my advice, you can write to me at fdzigler at ya hoo dot com, and I'll be happy to discuss some ideas with you. At this point in your life, don't throw in the towel without trying to make a deal you can live with. Lower payments now with a balloon payment in 30 years is an idea they may go for. You can try and be creative in finance as well as art. No, I don't think we are heading in to a depression. The government spends too much money for that to happen soon. Plus the Fed has moved to ease the credit crisis several times and will do what is necessary to keep us out of a recession. The rest of the world, believe it or not, doesn't want to see the United States go into a recession or a depression. When it comes to economics, everyone, though some secretly, root for the Yankees!!!
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