Yes, I also watched the video and understand the homeowner’s situations completely.
As to “Josh,” he claims he made $20K in payments and put $30K down and his condo is now worth $45K (if I remember right). At the time of taping of the segment, he had been “squatting” about 28 mos after trying to get a principal reduction from his lender. He stated that if he moved out the next day, the lender “got theirs” (made more $$ off him than its current market value). I can understand this way of thinking. Josh is young enough to rent awhile and recover from this lesson.
However, “Kevin” and no doubt his “defecting spouse” (brian, she could have rocketed to the moon last month, but SHE SIGNED the I/O note along with Kevin), are not. Their bad decisions will follow them into retirement and severely curtail their choices for years to come.
