HUD Homes Articles | Karen Munroe had the life that many families could only dream of, a wonderful husband, 3 beautiful children, and a wonderful home to live in. Her husband was Vice President of Sales for one of the most popular children’s toys called Jiggles. With gross earnings of $275k per year, full benefits, and added incentives, Joshua Munroe and Karen Munroe had a very comfortable lifestyle.
Joshua and Karen Munroe had been married for about 12 years. They met about 14 years ago in Irvine, California at a local restaurant. 2 years after that, they were married and moved to Laguna Beach, where they had always dreamed of living. Nice neighborhoods, less than half a mile walk to the beach, and a beautiful 4 bedroom, 2.5 baths home.
With a down payment of 20%, the Munroes were able to purchase their home in 1996 for $550k. During that period, the average interest rate for a 30 year fixed was about 7.5% for a Jumbo Loan. The Munroes had an interest rate of 8.0, which they were satisfied with due to their 30 year fixed program.
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