Regarding the recent article on foreclosure: A couple who made $8000 to $9000 a month didn’t save enough to get them through a hard time? Not only that, but the rule of thumb for the ratio of house payments to gross income is 36 percent. Even at $8,000 a month, theirs was only 16 percent. What did they do with the other 20 percent? For that matter, what did they do with the 84 percent?

This article leads us to believe that we should feel sorry for them. Everyone knows that the oil and gas business is extremely fickle. We are writing this not to disparage this unfortunate couple, however it seems that a cover story needs to be written about what happens to people who don’t save their money while they have it, especially when children are involved.

Sadly, most young couples don’t have two dimes to rub together, drive older vehicles and work evenings and weekends at every opportunity. Many of them also manage to save what little money they can for emergencies. Those are the couples we should be supporting in any way that we can, including writing stories depicting their situations.

Hopefully this couple and others will learn from their mistakes because adversity will always lie ahead in some form.

NICK AND ALICE LOBATO
Grand Junction

This entry was posted on Thursday, July 30th, 2009 at 12:33 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.