I’m renting now. If I lose my job and can’t pay the rent, all of the resources of the civil court system will be brought to bear in order to get me thrown out on my ass and my possessions dumped on the sidewalk. I can expect no meaningful help from government other than directions to a homeless shelter in another jurisdiction.
If I become a homedebtor, then lose my job and can’t make my mortgage payment, I will officially become a victim. Then the federal and state governments will move heaven and earth in order to help me stay in “my” house.
If my hypothetical house does end up on the auction block, I can expect some kind of “cash for keys” deal on top of six to twelve months of rent-free living.
