Real Esate Blog

Speculation is ongoing that many homeowners are withholding their house payments on purpose!! It seem with all the current conditions it may be that some owners are stalling on purpose. Why?? Well, there are many reasons.

1. Fear of losing their job.

2. Falling home values leaving them upside down.

3. Fearing if they are current on their payments they may not qualify for goverment assistance.

4. People who are current are getting no concessions from their lenders.

5. The decreasing stigma of defaulting on their loan, if GM can do it, why not me?

6. Uncertainty on the future of the economy in general, is it going to get worse than now?

While I do not advocate this, I can certainly understand some people are choosing to withold their payments.