the buyers fault.  Some of us have to rely on our loan officers and attorneys, both who lie very, very well.  We own a home at a high interest rate and a month ago we went to our loan officer and asked to re-finance at a lower interest rate.  She said that to get 2 pts. lower it would cost us $7,000.00 cash (which we don't have), but wait, it gets better, that's just the cost of the loan, closing fees, title search, insurance, loan modification, etc. etc. etc. came to a total amount of $12,000.  And, worse she didn't even mention the extra costs until I demanded to know (because I've learn). First time buyers would never know 'to ask' these questions.  Our loan officer said that she could not guarantee even $12,000. because she said that it depends on when the loan closes and that the average amount of time is 90 days!  She said that we would have to be prepared to pay as much as $14,000.

So, now we are stuck with a high interest rate and my husband's employers are claiming that the banks are no longer fronting money to movie companies ~ therefore, his invoices may or may not get paid for the work he is doing. Yikes.

Really, the worst part about people losing their homes is that no one will be able to afford one, which is bad for all of us because crime will rise and poverty will be the new look of our america.

By the way, to rent a 2 bedroom apartment in a semi-nice area in Los Angeles is now $2,900/month.  In Beverly Hills, Malibu, Santa Monica, and Westwood the rents for a 2 bedroom w/o a pool is $4,600/month.