A Rising Tide Lifts All Boats

That was certainly true of the appreciation that carried real estate values high up the beach in the first half of this decade. However, the tide has since rolled out, exposing the rocks and broken glass on the beach and leaving many a boat on its side in the sand. This is the story of one such wreck.

A real estate agent with whom I do business called a few weeks back. She had a friend in financial trouble and wanted to bring her in for advice on her loan. The friend had refinance in 2005 into a loan that she thought was fixed but later discovered it wasn’t. She was not sure what to do.

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