Dateline is doing a 3-part special about the mortgage crisis. They started the series with the story of Paula Taylor.
She was virtually homeless, living from day-to-day with different family members, and working as a personal trainer for $1600 a month, when Countrywide gave her a loan to buy a condo in Boston. Her monthly payment was $2100 a month. How could this be?
Well regardless of any shady goings-on on the part of the bank, what part does personal responsibility play? Isn't it Paula's fault for signing on the dotted line when she knew she couldn't afford it?
I have no sympathy for her.
1 comment:
Uh...hold up: she makes $1600 as a personal trainer. So...why is she living with relatives? She can't find an apartment for up to $1000? Or did she save enough money living with relatives so that she could afford a $2100 a month condo?
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