[Wrong] In foreclosure and life is good?
Far too many people have sadly lost their homes to foreclosure in the last few years. But some people have chosen to strategically default and a side benefit to that is that it is possible to live in your home rent free for two or three years.
CNN Money has an article on the subject, Foreclosure free ride: 3 years, no payments revealing that borrowers can keep their homes without paying for an extended period of time.
But what was most troubling to me was one of the comments. Take a look at this screenshot.
The commenter proudly tells of not paying his mortgage for his primary residence or two apartment buildings while continuing to collect rent. With his savings, he bought two more rental properties for cash and is saving for a college fund and a Florida vacation.
And he feels that life is good.
Except that in my opinion, it is just wrong on so many levels.