Thinking Out Loud

May’s family owns a beautiful house somewhere in the metro. Being good and kind hearted people, when her aunt asked for help regarding a huge loan, they readily agreed for her to use their house as a collateral to a bigger loan that she got to be able to pay the first loan and finance a business she thought of putting up. Little did they know that their decision to be merciful and helpful will turn out to be a huge mistake that will cost them their house. After a year of religiously paying the monthly amortizations, May’s aunt started defaulting on payments. Checks bounced and before they know it, they were sent a letter to tell them that in a week’s time, their house will be foreclosed in favor of the bank. Now they are seeking foreclosure help so that they can salvage the house that her parents worked so hard to build.

This entry was posted on Sunday, May 18th, 2008 at 1:47 am and is filed under Random Thoughts. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.