After losing her job, Jolene Picard of Groton couldn’t bear the thought of also losing her 600-square-foot home with the white picket fence.
She liked to garden. Her dogs enjoyed the yard. And Picard put nearly $20,000 of improvements – not to mention a good bit of sweat equity – into the place on Midway Oval.
She borrowed $135,000 to buy her first home in February 2006, which was close to the top of the local real estate market. When she lost her job two years ago, Picard had trouble making her $1,100 monthly mortgage payment.
via Much-maligned mortgage program saved woman’s Groton home.