ls,
I really don’t know all the details…I posted over in another thread that the one couple was living way beyond their means, spend…spend…spend, so we had the feeling this was the path they were on. They had done what you hear of so often, refied and pulled money out of their home to use cash to fund their lifestyle. This left them upside down on the home.
I believe the other couple had an adjustable rate mortgage as they said their mortgage had skyrocketed. I believe they were in the category of just being naive first time homebuyers who didn’t read the docs they were signing.
