re: #416 ArmyWife

A good friend in Phoenix has been buying ‘distressed properties’. He advises that homeowners behind in their mortgages (and not making payments) are now getting access to several programs that are allowing them to stay in their homes, at reduced payment schedules, etc…as an alternative to foreclosure. As a guy who always makes his mortgage payments, it angers him (and me) to see the arrogance of the homeowners who are ‘gaming the system’.
Anecdotal to be sure, but I’ve no reason to doubt what he’s telling me.