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April 21, 2010
Is the supposed uptick in consumer spending being driven by defaulting mortgage squatters?
So...if I stopped paying my mortgage today, and wouldn't get tossed in the street for another two years, I can buy more shiny shit, right?
The average number of days from when a borrower stops paying on his/her mortgage to when the bank sends out the first foreclosure notice is 417, Zelman notes, and the final foreclosure can take up to a year more.
BLOCK PARTY DUDES!!!