Yikes!
I think these deals are a deliberate transfer of wealth from the poor to the rich. You get people who can barely afford that house, who obviously don’t have the means to fend off these companies.
This is just as wrong as people getting money erased off credit card debt.After they got the use of the goods or services they charged to the cards.
They borrowed the money so Pay it back.
America’s printed, fiat monetary system and “progressive” government has duped low-info Americans into thinking money is “free.”
These people signed a debt obligation, with their home as collateral, and took the borrowed money. That someone still owns this obligation shouldn’t be a surprise to anyone with half a brain.
This woman bought a 365,000 house for no money down, and thought she’d gotten away with something. Now, 19 years later, she discovers she is expected to make good after all. Well at least she should have sizable equity in the first mortgage, after 19 years of making payments.
Fixed.
Read later.
Make your darn mortgage payments.
Do our schools no longer teach grammar? Does the Post no longer hire literate writers and editors?
Now we need zombie student loans.
When you pay off a mortgage you get a release form that you can record with the county. No form, no payoff. “Forgiveness” is BS and anyone should know that. Nobody gives away money.
People assuming that 20% of their home’s cost was “forgiven” shouldn’t be allowed to buy a home. Why isn’t there some document they can produce saying that the loan was forgiven? Something stinks here.
Don't know specifics but if notices weren't being given to the homeowners about late payments, that implies the loans were forgiven.
They could probably squat there for a few years - giving them time to save money for a new home.
Who are “these people who took out second mortgages during the subprime lending housing bubble between 2004 and 2008 that they believed were written off”? My bank wouldnt of loaned me money under those circumstances. How do these low credit butt wipes get ahead of me in the line?
“It was the easiest thing I’ve ever applied for,” McDonough told NPR. “I just filled out paperwork and submitted it and I was approved.”
I told 3 friends here to apply and get the damn house on a mortgage. Where are they now? Bitching about life’s unfairness and still paying rent!
Shukin and a jivin! Gotta keep those moves movin!
2008 all over again. Maybe Pedo Joe will “forgive” a big pile of mortgages, you know if fairness or something.
Soon, the COVID loan forbearance will play out the same way.
bought ours, payed off early, not worried about zombies. IF they do show up they’ll get the “south 40” treatment...backhoe buried with all the other zombies.
“But I thought it was forgiven.”
“Did you sign the paperwork?”
“No. The bank just told me it was forgiven.”
If they indeed did get an official letter from the mortgage company saying that the loan was forgiven then they have standing to fight the new creditors in court. Also the new creditors could face fraud charges. Litigation city here we come. Only the lawyers win.
Did she receive a Form 1099-C, Cancellation of Debt from the mortgage holder? Did she pay income tax on the “cancelled” debt? No? Then it wasn’t forgiven.