Many Stay at Home for Free as Banks Defer Evictions
Living rent-free vs. foreclosure?
By Alana Semuels
RISMEDIA, March 27, 2010—(MCT)—It’s been 16 months since Eugene and Patricia Harrison last paid the mortgage on their Perris, Calif., home. Eleven months since the notice got slapped on their front door, warning that it would be sold at auction.
A terse letter from a lawyer came eight months ago, telling them that their lender now owned the house. Three months later, the bank told them to pay up or get out by the end of the week.
Still, they remain in the yellow ranch-style home they bought seven years ago for $128,000, with its views of the San Jacinto Mountains. They’re not planning on going anywhere.
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Tags: angie, bank, banks, collin county, dallas, Ebby Halliday, foreclosure, HAFA, mortgage, real estate, rent-free, texas, wylie
