A easy way to lose your home

I have to say the article by ABC NEWS which was found on their web site is not uncommon when it comes to homeowner losing their homes due to predatory loan. In the article it report that in court the judge ruled that the lender must refund all the mortgage payments to the homeowner who was in foreclosure . The truth is the lender will eventually win in any fight, but you can by fighting negotiate better terms. The facts in this case points to the lender having not completely fair with the homeowner at application or after.

First of all the interest rate went from reasonable to outrageous. The other problem is that the home they were qualified for was out of their income bracket. The reality is these buyers got a great house but terrible financing advice and ultimately a loan that could not be maintain.