I heard something on radio about ARM lawsuits also.
Yes, consumers are in way over their heads. I know an older guy who is retiring to AZ. He was planning on selling his house for $750k. He proscratinated in getting the house on the market because work that the house needed. Now he’s chasing the market down. I’m afraid that he’ll be lucky to get $450k on his 1970s house — the debt he refinanced himself to. Scary! House equity and Social Security is all he has.
