Scheduled home auctions hit 9-month h...

Scheduled home auctions hit 9-month high in Nov.

Posted in the Delaware Forum

Since: Nov 11


#1 Dec 15, 2011
Quote from TNJ article:
{High unemployment, a sluggish housing market and falling home values remain a major factor in homeowners falling behind on their mortgage payments. Many borrowers also have simply stopped paying their mortgage because they are underwater a term for owing more on a mortgage than the home is worth.}

The major factors? Number 1, high unemployment. The economic and job killing president is taking his toll on this country, in office three years and we are twice as bad off as we were, maybe four times or more with the horrendous debt he ran up.

Number 2, Borrowers have simply stopped paying because they are under water. What? The house lost value, or they refinanced and now because its worth less they stop paying? That is a deadbeat, and they deserve to lose their house and have their credit absolutely ruined. That is NOT an excuse to stop paying. That is why I find it hard to have compassion for a lot of these people who have lost their house. They elect to have it happen. -

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