Time’s faces of foreclosures are from KC

CNBC’s Rick Santelli is an asshole. He cemented it with his rant about subsidizing “the losers’ mortgages.” I guess he was talking about good people like Joseph Zachery and Paula Stevens. Zachery and Stevens, both from Kansas City, were featured in a Time magazine story called “House of Cards: The Faces Behind Foreclosures.” Zachery was a firefighter until a firetruck versus garbage truck accident. He’s on full-time disability — too much pain in his neck and back along with memory lapses and depression. He got behind on his mortgage — and the demolition business he was starting went south after the accident. His home could be sold on the steps of the Jackson County Courthouse on March 20.

Stevens is struggling to find work for the first time, and she’s finding that employers don’t want to hire someone in her mid-50s.

Time‘s David Von Drehle writes:

People like Paula Stevens and Joseph Zachery weren’t flipping houses or

lying on their loan applications. They didn’t pile up mountains of

credit-card debt. They worked hard for what they had and shared their

modest portions with others. Each readily admits to making occasional

mistakes with money, but even Warren Buffett has made occasional

mistakes with money.

Thanks to former Pitch writer Jen Chen for passing along this link.