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March 26, 2005
THE FAMILY NETWORK AREN'T ALWAYS THERE ANYMORE
Not long ago, a yuppie mortgaged his parents' home for a complex that went belly up. The bank was quick to foreclose on the family home with the view of Agana.
The yuppie lost his investment but his uncle paid the mortgage on his parent's home and allowed them to live there until they died so that they didn't have to endure the trauma and embarrassment of having their home foreclosed because of deal gone sour.
There are many similar stories of family members saving other family members in financial trouble. Some that have money give it away, others loan the money until it can be paid back. But I speak of families that lived decades ago, when families were close, when families meant something to each other, when family ties wheren't threadbare.
This week's Business Journal has an item about a family that's about to lose a family home in Tamuning. The mortgage is just under $900,000., the interest unpaid under $26K at FHB.....the place is in a compound area, a place you probably wouldn't want to live at so it would be best if someone related to the owner purchased the mortgage...so that who ever eventually lives there won't be a stranger. The amount of the mortgage is a drop in the bucket to the relatives of the lady mentioned in the foreclosure. I hear that she's a widow, she's ill and bed-ridden and I wonder why one of them can't keep her in her home until she's called Home. Surely she still has someone in the family that loves her enough to help her! Have we changed so much that we can just sit around and watch her be moved out of the home she knew all of her adult life?
As Chamorros we've changed a lot, huh?
Posted by auntiecharo at March 26, 2005 08:20 PM
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