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Get a loan, then quit paying, live free?

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MsKiwi
Established Contributor

Re: Get a loan, then quit paying, live free?


@Anonymous wrote:

Since "the system" is rewarding the irresponsible, has anyone thought about getting a loan and buying a home? Then immediately tell the lender that you need the payments reworked or the payments will stop? Then quit paying if they won't cut the payments in half? There is information on how to drag out the foreclosure for many many months, and I'm hearing in some places the lenders are so backed up that people have been living free for over a year? My goal would be to bank all the money saved, and make a move to buy in cash once home prices cut in half from where they are now.

 

 


 

Brilliant idea. I'm sure it'll work for you. <sarcasm intended> This is a board and forum to help people. If you're looking for scams and rip-offs, you're in the wrong place.
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