A friend of mine in Phoenix stopped paying on 2 houses, the one he lives in and his rent property. He collected the rent while it foreclosed and went to the bank and pocketed his mortgage money on both properties. He just paid all cash for another house in Phoenix using the proceeds. Now he has a paid-for home and has left the banks holding the bag for the 2 properties. Something tells me he will never be held accountable for this.
He’s actually a pretty nice guy, believe it or not. I couldn’t believe this when he was telling me the story. Oh well, maybe people are just following the example given by the corporations and politicians.
