Taken from today’s msnbc.com “The Red Tape Chronicles”-
“Angela Carter’s family has lived for 46 years in the same small two-story home in Chicago. But today a piece of paper says someone else owns the property, and a judge will soon decide if Carter and her mom get to stay in her home.”
“The reason Carter, 55, is facing eviction is that she fell for a high-stakes scam that’s sweeping the nation, preying on consumers who are behind on their mortgage payments.”
“She said that she fell behind in her mortgage four years ago after losing her job”
“Carter — who might lose her Chicago home — said she was hit by the worst kind of rescue scam, with her suitor managing to drain nearly $100,000 in equity from her home before she knew what had happened.”
I’ll agree it’s bad when things like this occur, but at second glance I see a deeper, more troubling problem that no one seems to have addressed in the remainder of the article. Specifically, how does a family live in the same home for 46 years and not have it paid for? I know there are several logical answers to that question but they all beg the question of how does one obtain financial common sense. Until the root problems are addressed situations like the Carter family find themselves in will continue.