Just look at it this way. You think your bills are bad now? Just think if one of the other candidates win the election.
Put the bills on hold, catch them back up after Ron Paul wins the election.
Mortage companies can't even afford to throw people out of their homes right now. We have whole areas of cities where people haven't paid their mortages in 8 months or more and the mortage companies can't get them out of the houses because they can't afford to take them to court and get a foreclosure done.
I was listening to a lady from Cleveland the other day talk about how she has no neighbors left and is one of the only people left on her street because all of their homes were foreclosed on, but she too hadn't paid her mortage in over 8 months or any utility bills and owed $26,000 for those 8 months she hasn't paid. She says the others should have just stayed in the homes because squatters are moving into them and they are also being robbed of everything in them. Not only that but the local businesses are going belly up because the people have left and there's no one shopping in their stores. A Giant Eagle which just opened 5 years ago is on the verge of closing because all of its customers are gone due to forclosure.
The mortage companies are finding out its better to leave the home owner in the home and try to get something worked out than it is to foreclose which costs them a ton of money and then the house ends up vandalized or robbed of all of its value.
Criminals look up forclosed homes online and goto them and strip them of their pipes, furnaces, wiring, appliances, and etc, and its creating a huge problem for mortage companies.
Trust me, right now, the last thing a mortage company wants to do is foreclose on someones house.
Go on eBay and look at all of the foreclosed homes on there that banks are left having to sell for a few thousand dollars after taking it. They don't even get what they paid in court costs for the foreclosure after they have to auction the house off.
Not to mention, if they do foreclose, you might be able to buy it back for just a fraction of the loan you took out to buy it in the first place.
For example, my home was purchased for $56,000, if the bank were to take it now and auction it off, they might get $5,000 for the house, and it would cost them a few thousands for court costs to foreclose.
They not only lose out on the $38,000 I still owe on the home, but also lose out on the $130,000 in interest they would get from me if they work something out with me to make payments.
These companies talk alot and threaten alot, but the last thing they really want to do is foreclose. They lose out more than the homeowner does.
If they foreclosed on me, I'd just turn around and buy another home that was foreclosed on for a fraction of what I owe on my house, and I'd pay cash and have no future mortage payments. So, either way, I win lol.