<p>His wife sounds like she has some real problems which is what I suspected from the onset when I first read this thread. However, Andrews sounds like he was pretty responsible financially until this new marriage and this housing situation when he bought a house he clearly could not afford. I agree that he was foolhardy and down right stupid to buy a house when simple math showed clearly that he could not pay the mortgage. But it also show how foolish the lenders were to let him qualify for that much money given those numbers. I remember I had trouble getting our first mortgage because I had a $30 past due amount on a store credit card that I had not realized was being charged for a purpose when I applied for it when buying the item and getting a discount for it. So I do think Andrews was clearly showing the fallacies of the banks in lending money to unqualified borrowers. However, most people who are in the most trouble from such situation have other issues out there as well, one being an inability to truly rein in expenses to meet a long term money shortage. We are trying to do this now, and believe me, it is so difficult. </p>
<p>One of our cousins bought a house with credit so bad that she should not have gotten a $1000 credit card. Little income, divorce situation and they qualified her for $400K. She took out a mortgage for half that amount and has been struggling to keep that house. She has creditors calling all of the time. I know the house alone was not her biggest problem, but why the heck would anyone have lent her what they did in her situation? </p>
<p>A book that would less focused and with fewer answers would be one on those who cannot curb spending even when they need to do so. When hair appointments and sales at Lord and Taylor become necessities. When the food bill cannot be cut. When the kids have to have their stuff. When we feel we have to celebrate when we don’t have the money. Or have the money but it should be directed elsewhere. A quandry many middle class and high income folks have often.</p>