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dogtowner - The housing situation is completely crazy in the US.
   I know someone, who hasn't paid their mortgage the last year
   after getting the payments cut months ago.

   There is no reason to think they will make another full payment since they
   are now unemployed and living on unemployment benefits.

They never should have qualified for the original loan, which is
upside down, even with a lower interest rate, than they originally
bargained for. Nobody has kicked them out, so basically
they are living in a house for free, for now.

<blockquote data-quote="asur" data-source="post: 122309" data-attributes="member: 750">dogtowner - The housing situation is completely crazy in the US.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; I know someone, who hasn&#039;t paid their mortgage the last year&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; after getting the payments cut months ago. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; There is no reason to think they will make another full payment since they&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; are now unemployed and living on unemployment benefits.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; They never should have qualified for the original loan, which is&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; upside down, even with a lower interest rate, than they originally&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; bargained for. Nobody has kicked them out, so basically&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; they are living in a house for free, for now.</blockquote>

[QUOTE="asur, post: 122309, member: 750"] dogtowner - The housing situation is completely crazy in the US. I know someone, who hasn't paid their mortgage the last year after getting the payments cut months ago. There is no reason to think they will make another full payment since they are now unemployed and living on unemployment benefits. They never should have qualified for the original loan, which is upside down, even with a lower interest rate, than they originally bargained for. Nobody has kicked them out, so basically they are living in a house for free, for now. [/QUOTE]

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