May 31, 2010 · 8:08 pm

The new mortgage modification plan

Just stop paying. More and more homeowners are doing just that, and enjoying themselves during the ensuing years it takes for banks to foreclose. You probably have at least two years now, and foreclosures are getting even slower. It’ll probably be four years before too long and if you have a hefty mortgage, that’s a whole lot of cash to put to better use.

4 Comments

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4 responses to “The new mortgage modification plan”

  1. Anonymous
    May 31, 2010 at 10:53 pm

    This looks phony, like a wormhole in Frank Herbert’s Dune novel and in the horribly bad movie derived from that book.

    But, then again, the NY Times seems to have bought into it, and, therefore, it must be real.

    Mustn’t it?

  2. out looking in
    June 1, 2010 at 2:12 pm

    I’m a total idiot. All these years I have paid my taxes, all income on the books, and paid off three mortgages and three seconds in full. Now I bought another house with 40% plus down…..it will take a serious depression to wipe out my equity. And it is clearer to me now then ever before that I HAVE DONE THE WRONG THING!! Viva la great rationalizers and theives- hell, it’s the NEW AMERICAN WAY!!

  3. Anonymous
    June 1, 2010 at 5:11 pm

    What are the rules for renters in Fairfield County who decide not to pay their rent.