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Squatter Nation: 5 years with no mortgage payment


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2011 Jun 9, 12:50am   16,270 views  94 comments

by Norbecker   ➕follow (0)   💰tip   ignore  

http://money.cnn.com/2011/06/09/real_estate/foreclosure_squatter/index.htm

Why would anyone pay a mortgage when they can live in the house for 5+ years for free?

I bet the govt. will come out with some program to get these "victims" another home loan at taxpayer risk.

#housing

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93   klarek   2011 Jun 14, 2:49am  

StoutFiles says

If I was suddenly 2 million underwater I could never afford to pay off that debt.

You mean sell for a profit? You insinuated up above that being underwater makes one incapable of not affording their house.

StoutFiles says

Not saying they don’t deserve in almost all cases, but it does suck.

I never said being underwater doesn't suck. However if you suck out a half million in equity, have no intention of ever repaying that debt, and manage to save thousands per month by delaying your eviction for a period of time exceeding a typical lease agreement, your situation does not "suck". A person to cry victim in this case says everything about what a greedy piece of shit they are.

StoutFiles says

Let’s just say it’s not a fun situation for them, and as we both seem to agree, it’s a situation they deserve to be in.

Define "fun situation". I don't think it's fun paying my rent. I don't think it's fun to pay a mortgage either. This subject is doing neither of those things, and liquidated an assload of equity beforehand. I fail to see how unenviable this deadbeat's position is.

94   FunTime   2011 Jun 14, 3:04am  

klarek says

The only jail-like aspect is that she’s not paying. That is it. It would be like if my company offered catered lunches every day. “They give free food in jail too” would be just as outrageously a distorted and irrelevant comparison to make as what you did.

Yeah, I'm not trying to make a definitive statement, I was just exploring the idea that people with a seemingly positive finanicial situation, like someone who doesn't have a house payment, might have other aspects of their life that are not enviable and even the free living might be something that actually eats away at their thoughts, because they have some conciousness for the irresponsibility of their actions. Maybe not, too, as you seem to be saying.

Although, I'll add that you won't have to look long for people who compare their jobs to jail. I'm not saying I agree, I'm just saying you will find that person. I find it interesting.

You find my comments dumb, so I'll spare you reading any more of them. Thanks for responding anyway.

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