Mortgage Meltdown

In the US, there is a current scare called "Mortgage Meltdown." A mortgage is a standard method by which individuals and businesses can purchase residential and commercial real estate without the need to pay the full value immediately. Recently, the prices of homes in the US have risen so drastically and many families obtained mortgages that have obscure clauses that rapidly inflate interest rates and the home owners can no longer afford the monthly payments. These homes go into what is called foreclosure and the homes are put up for sale.

This house is not in that dire situation, but it is for sale because the owner wants to cash in on the still high property value and retire comfortably elsewhere. Unbeknownst to many of these homeowners, they will regret, missing the clement weather of Miami and will want to come back. Most of the time, they cannot.

This beautifully landscaped home on half an acre of land is for sale, and it probably will be sold very quickly. The beautiful tree you see is an old live oak. I really do not know where all the money comes from to pay for all these highly priced homes in Miami. Let me tell you, there are real mansions in Miami, and they are HUGE!