Memorial Day weekend is coming to an end and summer is unofficially beginning. Shoppers seemed to be out in droves today, but I was surprised how it seemed that everywhere I went today, there were more items on sale than at regular price. People are shopping, but maybe we are not spending as much. Gasoline was over $4.00 all weekend, and I had to put gas in my car. I couldn't bear to fill it up, hoping the price will go down a little when the holiday is over. I went to buy tomatoes today, along with some other vegetable starts and some seeds, and I went to a discount store instead of my favorite specialty nursery. I wonder how many of you made similar choices in the last few weeks or months.



For some, making spending adjustments will be enough to ride out this difficult economic period. But many of you are beyond that point already, and the bills are really becoming unbearable. Home mortgages are resetting rates at a rapidly increasing pace which is scheduled to peak in 2009, and some of you are probably facing the reality of a mortgage you simply cannot afford. At Resolve Legal, we are seeing people every day facing these problems, and summer sun is unlikely to shine down on any improvement anytime soon.

Labels: bankruptcy, consumer, mortgages