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Clearing the pipeline in New Jersey, which like New York handles foreclosures through the courts, would take 49 years. In Florida, Massachusetts and Illinois, it would take a decade.
but it is still wrong. pay your bills (you signed for them) or declare you are bankrupt. what happened to personal responsibility???/
It got a bailout by the government.
Moral Hazard from Main Street up to Wall Street.
I personally know someone who is 2 years into not paying their mortgage and this is Texas.
They've been able to pay off all their credit cards, buy a new car and are able to take 2 rather nice vacations every year
I will add..no jobs were lost here. If they get caught they'll just move to a rental.
Sometimes I forget that sarcasm doesn't translate well online sometimes.
I missed that for sure
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