People who have continued to pay their mortgages have financial losses due to the bottom falling out of the market.
We can't get equity loans or refinance our homes. This effects our ability to meet emergencies and do home repairs. We can't sell our homes, because we are upside down. Now we are stuck with mortgages of 6-7% while people who allowed their homes to be foreclosed on, are able to buy new better homes at less interest. I think we deserve the lower interest rates. Not refinance which would cost us money, just a simple interest rate reduction to the lowest mortgage interest rate in effect since the bottom fell out of the market.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
