Quote:
Originally Posted by Fletch XXX
well, considering at one point, not too long ago, it was reported that 700 families a day were losing their home a day in California, id say I am surprised the numbers are so low.
Most are living with relatives I guess,...
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I know several people that lost their homes... What happens is that they can't afford the mortgage, so they stop paying it. It takes 3 to 6 months to foreclose, at which point they just move into a rental for an amount that they CAN afford, and the 3 months of not paying gives them the deposit money for the new rental
When they say 700 families are losing their homes, they are simply talking about them losing the homes they OWN.... they can, and do, still rent.
