Reply #67: Well, it has to have been a worse case scenario which unfortunately is not explained [View All]

[whistle]

...but I would suspect that she might have had been charged cash penalties which she could pay, so those were rolled into the principle along with added fees and perhaps even interest, maybe she lost her job and needed cash to live on as well, that was advanced and again rolled into the principle, and then her credit score went down, thus allowing the lender to automatically adjust the interest rate upward to some large usury level like 18% or 22% which of course no normal homeowner would ever expect and there you go, along with legal fees, yes I can imagine an impossible scenario like that on the most vulnerable. How would an individual stop that once they are hooked into it? Even bankruptcy costs several thousand dollars to file, an amount that many of us today would be hard pressed to come up with. In larger areas like NYC, LA and Chicago, the lawyers are much more expensive and so those filing fees could be in the $5k+ range, so you see that these people are helpless.

I can see this happening to many millions of Americans in the coming months. What about those troops over fighting Bush's Stupid War in Iraq and Afghanistan, how many of those families are now exposed to being at risk of losing their homes? There is no provision for any of these people who might have signed into such mortgages thinking they would go do their patriotic duty, win the war and be home. Now they are seeing the war dragging on into and endless, hopeless situation and can not do anything to protect their families from being evicted. More subprime victims and there are a lot of them.