Post by CMF Newsman on Sept 23, 2008 8:02:48 GMT -5
MIAMI - Al Ray is so strapped for cash, the only time he eats out is on Wednesday or Sunday, when the local McDonald's sells hamburgers for 49 cents.
Ray lost his engineering job last November, and has been working as high school tutor, scratching out about $1,000 a month — if he's lucky. He struggled to make his $1,400 monthly mortgage payment and $330 monthly homeowners' association fee until May, when he stopped paying.
Ray, 44, is looking for work and renting out a room in his two-bedroom condo in Davie, Fla., for $500, but his monthly income doesn't match his expenses and he's facing foreclosure.
"I barely have money to survive," he said.
news.yahoo.com/s/ap/20080923/ap_on_bi_ge/cash_strapped_homeowners;_ylt=AsMuDGzihTodYWAgRv6OQA8DW7oF
Ray lost his engineering job last November, and has been working as high school tutor, scratching out about $1,000 a month — if he's lucky. He struggled to make his $1,400 monthly mortgage payment and $330 monthly homeowners' association fee until May, when he stopped paying.
Ray, 44, is looking for work and renting out a room in his two-bedroom condo in Davie, Fla., for $500, but his monthly income doesn't match his expenses and he's facing foreclosure.
"I barely have money to survive," he said.
news.yahoo.com/s/ap/20080923/ap_on_bi_ge/cash_strapped_homeowners;_ylt=AsMuDGzihTodYWAgRv6OQA8DW7oF