US mortgage crisis creates ghost town (near Cleveland, Ohio)

http://www.breitbart.com/article.php?id=080127183107.ahcwfxrz&show_article=1&image=large ^

[Hot Tabasco]

9422 Chagrin Street

Looking at that house via satellite photo it is identical to the houses on Detroit's deteriorating East side. None of those houses are worth over $30 thousand dollars and probably not worth even $20,000.

How she can end up in over $24,000 debt (after living in that house for 30 years) in just two years is beyond my ability to comprehend........As I said, there is more to her story than was written.

[traumer]

“Shaker Heights the Cleveland suburb is in OH not IL.”

Yes - sorry about that...

[AnAmericanMother]

"Brady went to hell, lookin' mighty curious,
Devil said, 'Where ya from?' 'East St. Louis.'
'Take off your coat and step right this way,
Cause I been expectin' you every day!'"

- I learned the ballad of "Brady" some 30 years ago. Some things never change.

[Graybeard58]

You passed within 170 miles of my house. Next time wave.

[Vince Ferrer]

Who can't afford that?

People with no job.

[abishai]

I’m sorry but I don’t know how to link it. Read the Wikipedia entry for East Saint Louis. It’s eye-opening.

[traumer]

[Texas Eagle]

TE:Who can't afford that?

VF: People with no job.

Then they should sell their home to somebody who does have a job. Do I have to think of everything?

[balls]

Shaker Heights is a limousine liberal neighborhood of Cleveland and this story appears to have its geography mixed up. The current Shaker Heights story is not foreclosure problems but liberal racial integration attitudes that have come home to roost. Check out this NYT article:

http://www.nytimes.com/2008/01/17/us/17shaker.html?_r=1&incamp=article_popular_5&oref=slogin

I hope a Cleveland area freeper can give us the true skinny regarding what is happening to Shaker Heights.

[Graybeard58]

I cried because I had no shoes, then I met a man who had no feet, so I stole his. (He didn’t need them)

[nicmarlo]

that was callous.

: )

[ATOMIC_PUNK]

She says she is one of the last people left on the street. And she is on the verge of losing this two-bedroom house in which she has lived for more than 30 years because she simply cannot afford her monthly payments.

Shouldn't that have been paid off after 30 years ?

[traumer]

“Shouldn’t that have been paid off after 30 years ?”

Not if you tap the home equity for some 18” car rims and a big screen TV...

[bvw]

LOL!

[bvw]

A strange tale.

[ATOMIC_PUNK]

This story has so many holes swiss cheese don’t have a chance to compare !

[kinoxi]

It is.

[Lurking in Kansas]

Ditto, a ghost town??

I don't believe it.

[kinoxi]

A ghost town that just tripled it’s police force.

[Ronin]

The way that contracts are written these days, with masses of clauses, subclauses, weird legalese... is it any wonder?