November 26, 2008

Adult children moving back home with parents

"Extended families sharing a home was once an American tradition. Now with rising foreclosures and layoffs, it's a necessity. But there is a silver lining.



Donald Garcia, 35, and his wife, Augustine, were living in a Burbank apartment when Augustine's mother approached them for help. She had refinanced her three-bedroom Tujunga home a year and a half earlier with an interest-only loan, and what had been a $900 monthly house payment had doubled."
(2008-11-15)

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