yet it seems those people always get breaks that enable them to continue being broke and living the high life. I know a woman who's family is like that, was 6 months behind on mortgage they couldnt afford with a house they just bought a year prior and Obama bailed them out and had their mortgage payments reduced from $1000 a month to about $300 a month.... later their still eating out most every night, vactions, new clothes and still complain of being broke.
Meanwhile we still struggle but pay all our bills on time and never get no breaks, rarely eat out, never once took a vacation.. figures.
They'll be out on the street, give em time.
Some people I know are like the couple in the OP's story. They didn't make a lot of money, maybe $60k between them. They sold a house and made $30k on the deal. Her dad died and she got $15k. They moved in with her mom until they found a house to buy. In the 8 or so months it took them to find a home, they went through every single penny of the $45k on junk.
On top of that, they were sub-prime candidates and got an ARM. Two or three years later, the rate went up and they got tired of paying the house payment so they bought toys instead.
To make things worse for themselves, they decided to max out all their credit cards and then decided to declare bankruptcy. Since they were colossal idiots, they were rudely surprised when the judge didn't discharge their massive ($30k +) credit card debt.
Now they are living in a rat-assed apartment that is three times smaller than their house was, yet costs the same in rent as their mortgage. PRETTY SMART, HUH!
They've pretty much pissed through near as makes no difference $80,000.00 and all they have to show for it is a bunch of Disney DVD's and some Disney figurines.