I'll add another point. And I'll preface it that your opinion and mine too are worthless in the grand scheme. What is going to happen is going to happen. To those folks that love to say “I made all the right financial decisions why should I pay...”
Guess what, I agree you and I are getting shafted. But to think you and I are insulated because we did the right thing is naive and foolish. Current govt WILL get us in other ways and so will rampant crime as thing gets worse.
I'm a slow typer, takes me too long to make a point. To sum it up, if this economy doesn't turn around soon, financial responsibility may not be worth much. God's Grace, some luck, some planning and then what happens will happen.
I am surprised though that this man did not get SSI disability and/or a charity didn't step in. I guess charities are as strapped as the rest of us.
This story is short on background facts. Such as; did the borrower attempt to get a loan mod, or make some other arrangements with the bank. Or did they just ignore the bank statements like she did the door when the Sheriff knocked?
In the linked video the man’s wife does mention this man was the first in his family to “own a home”. I also notice a distinct accent, so it is at least a possibility these folks had one of those notorious sub-prime mortgages. If this is the case, then these folks are no different than a million others that most likely did not qualify in the first place. If on the other hand it is simply an unfortunate turn of events that has lead to this, they need to accept facts, and move on.
Either way, I’m not seeing much in the way of personal responsibility with this pair.