Our Story

About three and a half years ago, it became obvious that our home $880, 000 with a 450,000 mortgage had reached its high. We were very concerned about the general real-estate market, believing that real trouble was coming; and yet at the same time, we also believed that we had a significant buffer of over $400,000 equity in our home to cover almost all eventualities. After all, we had a line of credit for $150,000 from our mortgage lender. So at any time, we believed that our home was like our bank, or as good as a bank, which could be relied upon as needed. What we did not know is that we were drawing down on this line of credit, because we were making the minimum recommended payment on our mortgage. Notwithstanding, over the years, we had only added to the outstanding balance $45,000. Not the end of the world!

However, in the last three years, we have seen the equity in our home disappear, as if it had wings. READ MORE HERE