Re: Scary article on retirement planning.

"SoCalMike" <[EMAIL PROTECTED]> wrote in message news:<[EMAIL PROTECTED]>...
> > Yup.  That's what happened to me.  $<x> worth of credit card debt
> > because I went without a salary for 8 months, the economy went pffft,
> > and the house was unsalable.  It's sold now, thank God, and I have a
> > small business and I'm paying off the debt (it's down to $<0.75x>
> > already).  The scariest moment of my life was when the realtor told
> > me, with a serious face, "Well, you could always consider
> > foreclosure".  Brrr.  No more.
> 
> didnt you make a small amount of money off the sale? sounds like you got
> caught up in the hoopla and overpaid in the first place.

Oh, sure; but my rent was going up 50% every six months, and I had no
idea how long that was going to last.  My mortgage ended up cheaper
than my rent.

And yes, I did make some $$ off the sale, but nowhere near enough to
cover my debts.

LM