The Salt Lake Tribune
Wednesday, February 25, 2009
Big mortgages, big trouble
Home buyers taking out huge mortgages helped fuel the foreclosure crisis, according to a new report.  If you're in the market for a home, think hard about your future monthly payment and whether you will have enough money left over each month to cover all your other bills as well as save some money and have a little fun. Living in a trophy home will surely impress your friends and family, but being house poor is absolutely no fun at all.

posted by Lesley Mitchell @ 10:47 AM |

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About Lesley
   Lesley Mitchell has been a business reporter at The Tribune since 1997, covering real estate, the retail industry, personal finance and economic development. She's been a devotee of frugal living for more than three decades, starting when she was 8 and began washing cars (rain insurance anyone?) as a way to fund her goal of early retirement. A graduate of Utah State University's MBA program, Lesley, and her family, are dedicated to finding creative ways to save money, avoid debt and still have fun.
Feedback
   How do you and your family save money? Send an e-mail to lesley@sltrib.com.