The bill for America's excessive borrowing during the housing boom has arrived, and more people are having trouble paying it.
That right!!..I see all my neighbourhood house are on sale.Everywhere,the house have real estate agent stand on their front yard.Some people just renovated their home and can't afford to paid their mortgage

JPMorgan Chase & Co. and Wells Fargo & Co., two of the nation's largest banks, on Wednesday joined a growing chorus warning that the subprime mortgage mess is just the start of a sweeping lending crisis. And some fear that consumers falling behind on all kinds of loan payments could tip the economy's scale toward recession.
Recession is a bad word!!..With today gas price is out of control,then come everything else..food first,then....?

Strapped consumers are having a tough time making payments on credit cards, home-equity loans, and even for their cars. This has caused three of the top five U.S. commercial banks that have already reported damaging fourth-quarter results to set aside some $12.5 billion to cover future loan losses -- and that number will likely grow as the year wears on..
This is really sad but it's so true....That why we must always save for raining day..Must be frugal like Warren Buffet!!..hahaha!!

Read HERE