I read this woman’s depiction of her plight. In the end, she’s just another person with a sense of entitlement. She’s obfuscating her bad decision-making by cloaking her true desire/motive/agenda: she wants her bailout (handout) too.
In her update, she’s says she’s not… but c’mon! Gimme gimme gimme. Me me me me. She has a victim mentality, but that just rings hollow. At 65 years of age, she should act like a grown up. Instead she still has the inclination to rely on her daddy.
Her attitude is representative of the pigman’s disease. She wants to socialize her losses, too. If Big Daddy is bailing out them big bad banks, “why not meeeee too?”, she asks. She could try holding her breath until she turns blue? Heh. She should try living within her means (that means being able to “afford” a 30-year fixed not a 5-year I.O. with HELOC at bubble peak- c’mon!)
Life is not without risk. She gambled and lost. She over-financed in order to overpay for her home. Deal with it. Getting out of her mortgage by reneging on her contractual obligation (mortgage), while repugnant to the prudent-minded, is still (always) an option. Unfortunatley for her, this door will only open when she defaults. That will happen when she comes to finally accept the contingent penalties (fico score, etc.) as reasonable.
The other side of the coin to her story is, someone else will buy her home, at closer to its true value.
What is it’s true value?
The market establishes that.
We’re a long long way from there.
Many of the commenters see right through her.
“Why is our government penalizing the people who played by the rules and rewarding the people who didn’t?”