- Top Features:
- War Room
- Glenn Greenwald
- Broadsheet
- Joan Walsh
- Camille Paglia
- Since You Asked
- Follow Salon:
Read other letters about this article
I appreciate the article. But I guess I'm still a bit in the dark about the effects of this. I apologize for my ignorance, could someone here answer a few questions?
We bought our first home last august. It was a fixed rate loan, not an ARM, but we put no money down. We are making our payments fine, and so far our house has not gone down in value. Yet. I thought that this debacle was limited to the unfortunates who bought with ARMS. Am I wrong? If our house gets seriously devalued, are we, and everyone else, in deep sh**t too? Or is this something that generally affects the economy and starts the downturns that lead to layoffs?
I appreciate any help in understanding the impact of all this. I know it ain't just about me, but I worry when I see such panic on the front pages.
