“I’ve heard of foreclosures, but this is going a bit far, don’t you think?” I asked my banker.
“Well, since your home was ‘under water,’ that is since your home was worth less than you owed, we thought we’d blast it to smithereens and collect on the insurance. That way you get 50 and we get 50…and we all make out handsomely.”
I couldn’t believe my ears. My upstanding mortgage company was going belly up as far as morality was concerned.
The ball was in my court.
What to do?
Play ball? Or go home?