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October 17, 2011 - Sylvia Heldreth
Some delinquent mortgage holders are defying lenders and staying in their homes while living for free, sometimes for years. They have attorneys pleading their cases causing the lengthy foreclosure process to take even longer. Sometimes, banks are not pushing to go to foreclosure because they do not want to increase their inventory of repossessed homes. AARP recently reported, "Florida retiree C. Light is still holding on to his three-bedroom home in the scenic Gulf Coast community of Cape Coral, as well as a five-bedroom residence in the town of Bartow. It's been almost two years since he made a mortgage payment on either one."
There are mixed feelings about those who aren't paying. Some are sympathetic to their neighbors' financial plight. Others see them as freeloaders who are working the system, an insult to the millions who are working hard to pay their mortgages on time.
What do you think?
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