Five Years Without Making Mortgage Payments

[flip_it_fast]

Okay, I will be the first to say that I think some of the loans that banks have made in the past are just ridiculous and I also am fired up about those who wrongfully lost their homes. But... I just read about several people who have stopped making their mortgage payments altogether, some for as long as five years, and are still living in their homes.

I understand that when the economy bottomed out jobs were lost and it made it quite difficult to get by. We have all been in the same situation. But when people make no effort what so ever for years on end to pay anything at all on their homes, what do they expect?

Okay so you can't make the full payment. Start the process to try and have your payments reduced and in the meantime pay something! Duh!

I know people say there are no jobs out there but I live in no where land and the gas station is always hiring and other small places that offer minimum wage jobs. It's time that people realize that they aren't any better than the rest of us and take a low paying job until something better opens up. Make mortgage payments even if it isn't the full amount each month. It's better than nothing at all and shows that you are at least trying! I can't imagine living in a house for five years without making a payment!

[flippinout]

Well, to take it upon themselves not to make payments for 5 years is kinda redundant. A person cant expect not to pay on something and still retain ownership of it.

My question is how are they still living in those homes without having made their mortgage payments while people who were trying their best to keep their homes lost them? It doesnt make a lot of sense to me.

[littleroc02us]

Does a promisarry note to a bank mean nothing anymore? Why did you sign the note and feel you shouldn't make the payment if able? Very immoral and speaks a lot about one's character. By the way have any of you noticed that unemployment is around 8.6 percent, which means around 91% of us have jobs.

[flippinout]

Its a real shame that there are people out there that have fought and fought to save their homes and have ended up losing them. Then to hear about people that havent made a mortgage payment for years still living in their homes is ludicrous.

Seems there are different rules for different people eh?

And yea, the umemployment rate seems to be down, and the fact that 91 percent of us have jobs is great. Wonder what sector of the work force makes up the other 9 percent? Are they the disabled that collect SSI or what?