[quote=TemekuT]Don’t cry crocodile tears for this “owner”. Property was purchased with zero down in 2005 with 80/20 loans and refinanced in 2006 with closing costs added – piggybacked again with 88/12 loans. Surprisingly no cash was extracted. “Buyer” put nothing into the property and has lost nothing as there is probably a snowball’s chance in hell that the property is worth what was paid for it. Too bad for for Homecomings Financial though, lol.[/quote]

Hmm. We have heard about underwater homeowners burning down the property. This might be taking it to the new level (just kidding :))