There once was a man who lived in Sterling (on Holly Avenue). His mortgage company would not lower his rate (he had negative equity so it would not appriase at the new, improved, lower price).
Mr Holly Avenue, decided he wanted a nicer house (in Ashburn). He purchased the new house, moved to Ashburn and stopped paying on the old house (on Holly).
Shame on you mortgate company for being greedy and not refinancing your own loan (after all, you were dumb enough to do the loan in the first place....even though you knew the value was inflated).
Shame on you Mr. Holly Avenue, for walking away from a house you promised to pay for and sticking the tax payers with the bill.
Hope you enjoy your new house in Ashburn. Remember, what goes around, comes around.
So, WHEN are we going to close this loophole? The crooks are cooking all our gooses. We need to stop them. NOW. Law makers? Are you there? Are you lame? (lame duck) Are you doing anything to stop this? This needs to become a criminal (fraud....i.e. felony) issue. Obtaining a loan under false pretenses is credit fraud last time I heard.
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