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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  March 10, 2009  |   Even the Simpsons Face Foreclosure
In this week’s new episode of The Simpsons, Homer and Marge’s adjustable-rate mortgage skyrockets and they have to put their home up for sale. The couple is in this jam because they financed their annual Mardi Gras parties using home-equity loans.

Homer explains his dilemma in a way that is pathetically close to what has happened to so many others:

"It's a secret thing called a home-equity loan. I get all this cash ... and the house gets stuck with the bills!"

Later in the sad, but almost-true episode, he tells his mortgage broker: "When you gave me that money, you said I wouldn't have to repay it 'til the future. This isn't the future. It's the lousy, stinking now!"

Source: TheSimpsons.com (03/08/2009)

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