Relevant:
- Owners Stop Paying Mortgages, and Stop Fretting
- Rep. Barbara Lee: Put the brakes on home foreclosures
- Understanding mortgage loan modifications
- nearly 9 in 10 americans believe it’s wrong to stop paying mortgage
- At the Bank of America Signpost Up Ahead, Your Next Stop – The Loan Modification Zone
2010-06-02 — nytimes.com
``A growing number of the people whose homes are in foreclosure are refusing to slink away in shame. They are fashioning a sort of homemade mortgage modification, one that brings their payments all the way down to zero. They use the money they save to get back on their feet or just get by.
This type of modification does not beg for a lender’s permission but is delivered as an ultimatum: Force me out if you can. ''
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Comments:
catherine at 03:45 2010-06-03 said:
ouch now it is out in the open. this totally explains those fake retail numbers that swoon the media into saying we are in recovery, millions are living for free. now the borrowers living free for almost 2 years are making fun of the very people who gave them loans for their dreamhomes.......... this kills whatever is left of the investment takes away all sympathy and puts foreclosures on the fast train which puts everything else on the downtrain and takes the pensions and companies and countries tied to these securities with them. Permalinkadd a comment | go to forum thread
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