Money and Main Street
4 of 4
Marlene McGuire
City: Northglenn, Colo.
Price paid: $261,000
Current value: $180,000
Lesson: "You have to get out of the house when no one will help you."

The McGuires purchased their home in 2005 and made the $1,500 a month payments faithfully. When their adjustable-rate loan began to reset, the increases were small, just $50 to $75 or so. But they added up, and soon the couple was paying more than $2,100 a month.

That was a tough nut for Marlene's husband, Bill, to manage even though he earns good money as a long-distance trucker.

The tri-level had three bedrooms upstairs and another suite in the basement. "It had all the extras," says Marlene, a homemaker in Northglenn, Colo.

Getting advice from, a Web site that guides people through the foreclosure process, the McGuires realized that they owed much more than the property was worth and the upkeep costs were beyond what they could pay.

Even though Marlene loved her house, they opted for a short sale and found a buyer at $180,000. The lender approved the deal, and they moved out, free and clear. They continued making their regular payments each month until they left their house.

Because they were not delinquent, their credit didn't suffer too much at first, but the short sale did hit hard.They now live in a mobile home.

"That's the best we can do right now," said Marlene. "But, the stress is over. My husband and I were not getting along; there was conflict. It was making me very sick. You have to get out of the house when no one will help you."

More galleries

Last updated September 16 2009: 12:46 PM ET
Email | Print | Share  |  RSS
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all RSS FEEDS (close)
More Galleries
10 of the most luxurious airline amenity kits When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More
7 startups that want to improve your mental health From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More

Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.