I know we are all tired of hearing about the "Bail out" and the financial crisis. People are saying that this is the market just correcting itself. When does it stop correcting itself? Is is able to correct itself without crashing? Is there an upside?
I know I shouldn't do it, but I have got myself worried sick. Let's say that the country does go into a depression. What happens then? Which bill do I stop paying first? We have a mortgage payment, we have credit debt. I mean, hypothetically, if more than fifty percent of people stop making mortgage payments, are they really going to have the resources to go in and kick all of these people out?
I am a planner. I plan everything. I like to know what is going to happen. I don't like surprises. I guess I have just worked myself into a frenzy. We have worked so hard for what we have, and if we lose it, I will be crushed. Our house, good credit, vehicles.
I've tried looking for some information to read on this subject. I want answers to my questions, but I really don't know who to ask in the first place.
Blah, I'm gonna puke.