Relevant:
- (Saving...) Fannie Mae, Freddie Mac to go after more strategic defaulters
- Housing Recovery Increasingly Prices Out First-Time Buyers
- Representatives Convey and Kaptur Call on Geithner, Fannie, FHFA to Stop Efforts to Pursue Strategic Defaulters
- The Fed Now Owns Your Foreclosed Property Under QE3 Purchases of Toxic Assets
- Mortgage-SCouple Lives in $1.29 Million Home Without Making Payments for 5 Years Read more: http://moneyland.time.com/2012/03/05/mortgage-skipping-masters-couple-lives-in-1-29-million-home-without-making-payments-for-5-years/#ixzz1oHmsVVzF
2012-09-15 — ml-implode.com
Yeah, I can see that happening. A staff of 45 going after some 75 million borrowers attempting to prove that they could have afforded their mortgage payments when they stopped paying them. That's going to be a tough road to hoe because I plan to develop a drug-alcohol-gambling problem at the very same time I default so even though it appeared that I could have paid... I was an addict at the time... and that a disease... not my fault.
...
Oh, and this should do wonders for that first time buyers market, wouldn't you say? Buy a home... end up in prison for failing to write something down on your loan app. Sign me up.
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