Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
In reply to the discussion: Trump voter lost her home to new Treasury secretary [View all]jmg257
(11,996 posts)42. Seems like the latest of a few mistakes she has made...
In 1998, she bought a triplex for $248,000 in Hawthorne, California, not too far from Los Angeles International Airport.
She rented out two of the units and lived in the third. Colebrook refinanced her mortgage in order to renovate the property and help buy additional homes to generate rental income.
By the time the financial crisis struck in 2008, she had an interest-only mortgage on the triplex known as a "pick-a-payment" loan. Her monthly payments ran as high as $2,000 and only covered the interest on the debt. Then she got ensnarled in the economic downturn.
"All my tenants lost their jobs in the crash," Colebrook said. "They couldn't pay. It was a knock-on effect."
She rented out two of the units and lived in the third. Colebrook refinanced her mortgage in order to renovate the property and help buy additional homes to generate rental income.
By the time the financial crisis struck in 2008, she had an interest-only mortgage on the triplex known as a "pick-a-payment" loan. Her monthly payments ran as high as $2,000 and only covered the interest on the debt. Then she got ensnarled in the economic downturn.
"All my tenants lost their jobs in the crash," Colebrook said. "They couldn't pay. It was a knock-on effect."
Make bad decisions, get bad results.
Edit history
Please sign in to view edit histories.
Recommendations
0 members have recommended this reply (displayed in chronological order):
71 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Normally, I would have compassion for her, but since November 8, 2016...
liberal N proud
Dec 2016
#1
Do you think the average American is equipped to sift good information from an ocean of shit?
Act_of_Reparation
Dec 2016
#57
I would prefer that our party figures out a way to draw in the 50% who DID NOT VOTE.
CincyDem
Dec 2016
#26
She has no faith in government because she got the government she always votes for.
Johonny
Dec 2016
#17
Alas, many millions of voters will be realizing that they got Republi-suckered
Achilleaze
Dec 2016
#30
Oh please, Teena. You didn't vote for him because he would get rid of "moneyed elites" in DC.
SunSeeker
Dec 2016
#32
At the ripe old age of 22, my Jarhead Dad voted for Ike in 1952. That was
KingCharlemagne
Dec 2016
#65
You enroll in Trump University, you're going to get an education in fraud and scamming. Because duh.
Squinch
Dec 2016
#59
well ho lee fug inch IT! that was a soup RISE to all of us, wasn't it, tee?
struggle4progress
Dec 2016
#61
Just wait till the estimated 5M Trump supports lose coverage after Obamacare is repealed.
Statistical
Dec 2016
#66