[MonkeyMama]

Certainly a good reminder...

of course, um, this is California, but I have no idea why you would buy a house like that on that income. ???????? Oh my. I mean obviously she could have found something more modest/affordable. Look at that house!

I know plenty of people making those kind of payments with no other choice. But she clearly lives in a more affordable part of the state. Those are some pretty nice digs. (I mean our relatives have $3k mortgage payments for condos, and due to the lack of affordable rents. That is very different from her story).

Just looks like another subprime mortgage mess to me. $2500 month? interest-only? Yikes!! This is the problem here. I am not sure how far an emergency fund would have stretched in this case.

There is no justifying that house payment on that income. Particularly not on an interest-only payment.

I wouldn't assume she bought that house with 2 incomes. It looks like the same-old, same-old. Of course, if she did, then when was it going to occur to her that she can no longer afford it?