Quote:
Originally Posted by CoachKandSportsguy
not sure how that relates to losing income to pay the mortgage, there are many ways which the average person can fall into a financial hole including an employment hole, and have a hard time paying a mortgage.
Both my prior boss and i were out of work for 3 years at different points in our lives, and not for lack of trying to get a job. . I even was hauled to court for not being able to pay child support, and again not for lack of trying. .
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I didn't say that it did. But, people who make a 20 percent down payment are much more likely to avoid a foreclosure, when the cost of living increases, than those who have little or no equity in their house. Obviously, if you depend on your income to make mortgage payments, and you lose your job, you cannot make the payments.