Homeowners who responsibly pay their mortgages on time are fighting the housing market with continuing property devaluation with no relief in sight from Lenders or Federal government aids.
Home values are lower than what people currently owe on their homes, so lenders won't give them refinancing on their homes & the government won't assist those people paying on mortgages that are underwater either.
Under the current structure, these people cannot be helped, so many are just throwing their hands up in the air and walking away from their homes.
This is curtailing the economic recovery in our country.
Friday, July 2, 2010
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