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The health care crisis and foreclosure

DCblogger's picture

Walking away: The wide and lasting impact of quitting a mortgage

Benjamin McNELLEY said he loathed the idea of walking away from the mortgage on his four-bedroom, two-bath house in Fauquier County, Va.

The former prison guard said he worried about what the decision might mean for his credit rating and whether he might still be on the hook for any outstanding debt.

But when both his father and his stepfather fell ill last summer in South Carolina, McNelley said, he had no choice but to quit his job and move.

Medical costs have been a major factor in bankruptcy for years. Had MBNA pushed for healthcare reform instead of the usury bill, everyone, including the credit industry, would be much better off. There are no winners in class warfare.

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gqmartinez's picture
Submitted by gqmartinez on

Bankers were throwing around money and boosting their pay on silly schemes and when the excrement hit the air conditioner, they ended up in a not so bad situation.

Submitted by lambert on

For the last 30 years of Conservative Dominance:



















That's the consequence of undoing the New Deal. Some of those "good ideas," doncha know.