Enough of these bleeding-heart stories about homeowners losing "their" homes. My wife and I are homeowners, because we actually paid for our home -- a novel concept in the new Socialist States of America. It cost $125,000 in 1989, was worth perhaps $450,000 at the peak, and is currently assessed at $204,000. Some would say we have "lost" $246,000, which is ridiculous. It is a house, not an investment; therefore its "value" is irrelevant. In fact, the lower the value the better, because the lower the value the lower the taxes we are forced to pay to support the parasites who do not pay their way.
We know a couple who made 10 times as much as we ever earned, who refinanced their mortgage several times as interest rates fell, and then got their mortgage modified at taxpayer expense, which included more debt erased than we paid for our home. Some may think us suckers for not playing the game, but gaming the system involves the eventual ripping off of fellow citizens. Home "owners" are those who put up the money to purchase the home, not the whiners who voluntarily entered into a mortgage which they subsequently failed to pay.