Bertrand Family

Kristin and Mike Bertrand, Home ATM / House-debtors

The pattern repeats... HELOC your way to a better lifestyle, months or years later, hand over the keys.

They say they are "casualties of a faltering economy". I say they got caught with their hands in the cookie jar. Refinanced "a few times". Repeat those words... "a few times." Two words for them: 'Risk management'.

They might want to invite the Moises to the party. They're going to need some help, soon.

Here's a video of lovely Ventura: Foreclosures

2008-04-04: Local couple starts a group
Caught in the downturn
Kristin and Mike Bertrand say they were not casualties of the mortgage crisis, but of a faltering economy. When the couple purchased a home in 2001, their combined income was more than $140,000. They determined their mortgage, then around $360,000, was affordable.

But they refinanced a few times, taking out equity to pay for bills. It compensated for a reduction in income, tens of thousands of dollars in loan fees and for upgrades.
Mike Bertrand, who builds and markets Web sites, has had job changes and had been out of work since February. He started a new job in mid-April with an annual salary of $62,500 — not nearly enough to afford the $4,200 monthly payment on a new mortgage.

He admitted that if they hadn't refinanced, there is a chance the family could have stayed in the house.