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Old 11-23-2007, 10:18 PM
bartongrl1 bartongrl1 is offline
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Default Mortgage meltdowns nightmare scenario.
NEW YORK - When Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 percent, he had a clear picture of how bad it could get.

His payment was scheduled to surge by an extra $1,500 in December. With his daughter headed to college next fall and tuition to be paid, he feared ending up like so many neighbors in Ft. Lauderdale, Fla., who defaulted on their mortgages and whose homes are now in foreclosure and sporting “For Sale” signs.

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