The Whittier Daily News reports from Florida. “Yvonne Herrera’s blue-gray, two-bedroom family home on a quiet, dead-end road in Covina was astonishingly cheap when she and her husband bought it: only $129,000. Ten years later, after refinancing several times and borrowing money against the home, Herrera and her husband pay $3,300 a month on a $430,000 mortgage.”

“‘We used some of the money for home improvements and to put in a pool,’ Herrera said. ‘But also a lot for expenses when our kids were in high school.’”

“She has already defaulted on the mortgage after struggling to make her mortgage payments, and worse yet, her monthly payments are scheduled to increase to $4,000 in …

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