Why? You will still own your house after 5 years. People taking the gamble on non payment will not and I rather doubt they will be living well after that. I think that is just an impression people have of the freeloaders. They will get theirs down the road.
My guess is a lot of people just stopped paying and have the money, the banks will never find out they’ve been stoking away the money. What a scam.
This reminds me of all the illegals who were flipping houses in california, buying them with no money down and selling them to their cousins for 100k more than they bought it, this would happen a few times and then the house would go into foreclosure without anyone ever having made a paying and illegal aliens with no education here illegally walking away with a few 100k, this happend a lot, the government was warned it was going on and did nothing. I work my ass off and wonder what the hell I am doing, frustrated beyond belief.