Why should a consumer reciprocate if the other side shows no moral obligation to them?
There are farmers who filed bankruptcy in the early 80's who are still pariahs. And rightly so.
Seriously? In this mortgage environment? Ponder the other side of the coin and I'm sure you could figure out a few examples.
quote:And in full recourse states, after it says the above it also says, "And if the collateral is sold for less than the loan value, we will then pursue all legal means to collect the difference from you."
It says "pay or we'll take your collateral".
A mortgage is a loan, not some magical entitlement bestowed upon the masses by Jesus.
Its an agreement to pay later what you could not pay now
quote:You think the debt holder is doing this out of courtesy?
In most cases, people will live 6-12 months in a property pending forclosure withouth making a single payment. I'll suppose you would be of the opinion that the lender owed them that time