(Source: Wall Street Journal)
It’s time to face facts, if you haven’t already: sometimes your house is just a home.
For most of the last decade, Americans treated their homes as sources of ready cash and as brick-and-mortar retirement plans. Overleveraged at purchase with no down payment, no documentation and negative-amortization mortgages, homeowners also mined equity with home-equity loans and lines of credit.
Read M.P. McQueen’s full article “Your House: Just a Home” in the Wall Street Journal (September 14, 2009).