Anyone urging personal responsibilty, remember that when things get really bad for these people, the government is threatening to intervene. That means me and you and other taxpayers.
I’d rather the bank get the hit and put it back on the market at a much reduced price, affordable for people who QUALIFY.
It really makes sense and is a win/win. She got to live in a house, paying high “rent” w/a write-off, sending her daughter to a good school.
The taxpayers are off the hook. The bank is on the hook for giving away free money.
The people who qualify get to buy a house at a reduced price.
