Oct
28

FORECLOSURE: On the Edge

By
Unemployment, rising cost of living boost number of those losing homes

October 28, 2008

By Katy Stech – The Post and Courier

Shoppers who are watching their wallets have led stores to cut back their orders and factories to trim production, a scenario that puts truck driver Charles Hayes in danger of losing his Goose Creek home.

“The bottom man — he’s got a family to feed, too,” Hayes said of fellow drivers with less seniority.

Hayes was able to adjust to the slowdown at first. But by late summer, the numbers in his household budget weren’t adding up, especially after his monthly mortgage payments readjusted to higher interest rates.

Now, his lender has filed a foreclosure lawsuit.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.charleston.net/news/2008/oct/28/on_edge59412/
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