[Unreal] Delinquent homeowners avoid foreclosure | Charleston ...

? yet they have never made a mortgage payment in the 5 years since they bought a million dollar mansion.

The Washington Post has a disturbing story about this couple who have been fighting foreclosure pretty much since they bought their home by ?exploiting changes in Maryland?s laws designed to help delinquent homeowners avoid foreclosure?.?

And it?s disturbing to me because while there are certainly victims of the foreclosure crisis, I don?t think that you would call these people victims after reading the story. Rather, they have been taking advantage of the system.

And while the lenders have not exactly been blameless in their handling of foreclosures, it just goes to show that there are unintended consequences when the government steps in rather than letting the market correct naturally. And sadly, the Justice Department and the State Government Attorney Generals?laid down to the banks with the foreclosure settlement.

Photo courtesy of Flickr Creative Commons by RPG Master

Source: http://www.charlestonrealestatetoday.com/2012/03/06/unreal-delinquent-homeowners-avoid-foreclosure/

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