The problem is that real estate bubble exploded and the property values tumbled significantly making not only an impossibility since now their home is worth less than they have borrowed. Now, when these mortgages begin to readjust to higher rates while the property values continue to diminish an economic episode of catastrophic proportions occur finding us in over 1.4 million US properties subject to foreclosure activity. Clearly these borrower were not informed about a mortgage payment protection policy when they first got their mortgage. Again, it is not too late. If you have not gotten such a policy you still have time.
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