Underwater real estate roulette
Letter to the Editor
By Inman News, Thursday, September 2, 2010.Re: 'Foreclosure roulette' (Aug. 31)
Dear Editor:
Russian roulette is exactly what is going on with underwater borrowers. In fact, more borrowers "on the fence" will be joining this group of homeowners as things get worse.
Why pay your mortgage when you can live virtually for free for a somewhat unknown period and save $250,000 to $300,000?!
John Power
Owner
John Power Real Estate
El Segundo, Calif.
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Submitted by Mike Parker on September 3, 2010 - 9:17am.
Mike Parker
mparker@theblackwatercg.com
It was reported today in another publication that government agencies are about to "crack the whip" on these scofflaws and that the foreclosure process will be monitored and speeded up by the government. I guess that's one way of dealing with the problem.
Submitted by michael styris on September 7, 2010 - 4:23pm.
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