Desperate to renewing their mortgage......
Looking ahead to the coming year, half of the middle class surveyed said they expected to have to cut more spending.
The survey by the Pew Research Center, a Washington-based organization, paints a mixed picture for the 53 percent of adults in the country who define themselves as "middle class," with household incomes ranging from below $40,000 to more than $100,000.
It found that a majority of Americans said they haven't progressed in the last five years. One in four, or 25 percent, said their economic situation had not improved, while 31 percent said they had fallen backward. Those numbers together are the highest since the survey question was first asked in 1964. Among the middle class, 54 percent said they had made no progress (26 percent) or fallen back (28 percent).
Asked about their financial experiences in the past year, 53 percent of middle-class people said they had to cut spending because money was tight.
"Everything is going up, and our incomes are not," ...
Offering the gloomiest assessment of economic well-being in close to half a century, a new survey has found that most Americans say they have not made progress over the past five years as their incomes have stagnated and they have increasingly borrowed money to finance their lifestyles.
Middle-class households are assuming more risk and borrowing more than ever before. Debt-to-income ratios more than doubled from 1983 to 2004, going from 0.45 to 1.19, the report said, as more families leveraged their lifestyle with larger mortgages, home-equity loans to pay down other bills and larger college loans to keep up with soaring tuition.
People are resorting to this to keep their homes:
http://www.FAKEPAYCHECKSTUBS.com
The question:
Would you use this little itty-bitty white lie or lose your home?
