Mortgage foreclosures weigh on housing market - 2004-02-22
Pam Green discovered something was wrong soon after moving into a new home in Pike Township in early 2001.

Other families have vanished the same way, abandoning their mortgages as well as the neighborhood.

Now several homes in Morningside are for sale, and Green figures the glut has cut the value of her home to about $90,000 from the $125,000 she paid for it.
Read the full story at Indianapolis Star

With house their only asset witha mortgage, time to liquidate? - 2004-02-22
I have an investment quandry. My wife and I are both in our late 70s and in good health. We find ourselves with basically no liquid assets, but a two-family house with an estimated value of $2.6 million and a mortgage with a balance of approximately $550,000.

Our income comes from Social Security, with a combined annual payment after Medicare costs of $18,000, and rental income of about $72,000 per year. Are we better off to sell the house and reinvest the proceeds?
Read the full story at Boston Globe