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This is a joke, enough of these government programs propping people like this up and allowing them to live in a house they never deserved to be in.
The following story of Keith And Janet Ritter, who have lived in their Fort Washington, MD $1.29MM, 4,900 square foot McMansion for 5 years (which they purchase with no money down) without ever making a single mortgage payment, and who are not even close to being evicted, may explain much about the way US society currently operates, and why other perfectly responsible and hard-working taxpayers (who do have to pay for their mortgage) continue to fund tens of billions in Fannie and Freddie losses who are first on the hook to absorb the implicit losses by allowing families such as the Ritters to live in perpetuity without paying, and the banks to keep said mortgage on the books at par without any impairments.
They are exploiting every legal loophole possible. Don't tell me you wouldn't do the same. It's really not up to them to make someone else force them out.
I imagine there have been some mistakes made by people along the way for things to have gone on this long.
They are exploiting every legal loophole possible. Don't tell me you wouldn't do the same. It's really not up to them to make someone else force them out.
I imagine there have been some mistakes made by people along the way for things to have gone on this long.
When you purchase a home it is under the agreement you will pay the payments on the home to who loaned you the money!
Exploiting every loophole possible is not right when people who the b ants would not work with lost their homes! I suppose it is the state in which you live.
I know a family that live in a home valued at $250,000. They took out equity loans, ended up in foreclosure, which went on over a year and a half. Their attorneys got them to mediation then dropped them for non-payment last year. The monthly payment offer from the mortgage company was too high at mediation, so nothing was resolved.
They pulled their credit report recently and their mortgage account is shown as closed, and they have a zero balance.
They are not getting calls, letters or being contacted in any way. They are hoping some sort of mistake has been made and they are off the radar. I'm sure once the mortgage company gets the tax bill it will come to life, but they are planning to pay the taxes and insurance on the property.
Who cares? I'm angry at politicians who are corrupt and in bed with these banks that should not have been bailed out. I'm not angry with someone who realized that the mortgage companies and banks are too incompetent to do much of anything, and are taking advantage of it.
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