Yep. I know someone whose home should have been foreclosed on 5 yrs ago but the bank rescued her because she used to work there. Keep Your Home Calfornia just agreed to pay the bank $92000 so she can keep her house. She’ll wind up losing it anyway. This is the 2nd time in 5 yrs she has been threatened with foreclosure.
If you have a huge mortgage, you’re a renter, not an owner.
You never conpletely “own” property because of taxes and zoning, but if you have to pay a lot to the bank, you’re a renter. Why all this talk about kicking people out of “their” homes when they have little equity in them?