Scare tactics and anti-news.
My heart is supposed to go out to Patricia Guererro, because she went from $70k a year to food stamps, and now can't figure out what she's going to do.
She's already burned through her savings to help make ends meet, and is drawing unemployment checks. She has had to take extreme measures to pay for her interest-only mortgage of $2,500 a month. In fact, her mother moved in with her to help pay the bills.
You know what? I am disgusted. Disgusted that she can't do the math, suck it up, and sell the house. No equity? Ditch it anyway. If she moves into a $1000/month apartment, she saves $18,000 a year, right there.
It doesn't say what industry she was in. It may be that the same necessary market correction that's dumping people out of their sub-prime mortgages is also popping the bubble on the west coast that has uneducated security guards making better than $50k.
CNN ran this story, nationwide, as news.