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01-20-2008, 09:47 AM
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Will County has the highest Foreclosure rate
in Illinois. This information is from last Sunday's Chicago Tribune which quoted Federal and State databases. The main problem is people buying homes they can't afford. In an effort to leave more diverse neighborhoods and appear more affluent, people working 2 or 3 jobs to pay mortgages they can't afford. I do not feel sorry for folks who went out and got adjustable rate loans just so they can live in a 5 bedroom home. I know a couple where the husband is a paramedic and the wife a substitute teacher that purchased a 350k home in Will County appx 2 years ago. They are now in foreclosure and plan to move in with relatives. Why should the government bail out people who were trying to live above their means?
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01-20-2008, 07:26 PM
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