|A typical homeowner, no debt with some savings template|
“When you’re living on a fixed income; paying 35% of that sum for what amounts to catastrophic healthcare coverage, then paying your bills and then trying to make that last $300 stretch for fun, food and gas – Well, it won’t take much to break that old camels back, now will it?” – Author unknown
Sadly, the ‘solution’ for millions who own their own homes, but can no longer afford to maintain them will be to try and sell or auction it off in what amounts to a buyers market, pocket what they can and then perhaps move to a trailer…where they can look forward to a declining standard of living, limited healthcare and an increasingly bleak future! The only ‘safety net’ out there for many millions are the so-called entitlement programs, all of which will go away at some point. This according to the GAO of the government which has repeatedly stated that they are on an ‘unsustainable course’.