BF2S Forums Are homeowners purposefully missing payments to get a cut of the pie?

Varegg wrote:

Wtf?

Is the mortgage tied to the house and not the lender or am i missing something?

Where i come from the mortgage is tied to you personally and there is no way escaping it except bankruptcy and you really don't want that to happen because you'll never be able to borrow again after that ...

Not true at all.  You can only declare bankruptcy every 7 years.  With recent changes in rules making it near impossible to declare in the first place.  If you can't declare bankruptcy, creditors can basically enslave you - take away everything except your birthday and maybe your kids (not sure about that part).  There's RN's bagging groceries because creditors had their professional licensing canned until they pay up on their student loans, for example.

Fresh bankruptcy = fresh meat for the credit industry.

Well BOA also has a website where you can pay your mortgage and not get any late charges up to the 15th of the month.. But guess what? It's was down on the 15th, so everyone whose been struggling to get the money up had to pay on the 16th..