I heard people talking in line at the store.What I heard was, " If we all stop paying our mortgage we can pressure our mortgage holders to drop the loan amount and refinance it for us at a better rate. What do you think about this? Will it work or not?
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SeanRenaud said on Sep 30, 2008....
In a fair world. . .you'd all be captured and sold into slavery for such an offense. But we don't live in a good world, we're stuck with this. That said if you all stop paying the problem we are seeing now would get 1000 times worse. There is no way of knowing for sure what will happen. -
Expendable said on Oct 01, 2008....
The banks close, your morgages get sold to money-hungry creditors who knowing you defaulted on your loan demand immediate payment or they're going to sell your house to someone else. -
momabiz said on Oct 01, 2008....
Who's going to be able to get credit to buy my house? There are so many on the market now that are in foreclosure. If this was done in a mass number, what would they do?
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