From CNN Producer Kysha Reid:
This may be hard to believe, but some some experts say that folks not paying their mortgage can be a good thing. Lenders call it "squatter's rent." Homeowners who are in the foreclosure process decide not to pay their mortgage, and instead spend that money on other things - boosting the economy.
Look for Clyde Anderson's segements in the 7 o'clock hour of CNN Saturday Morning with T.J. Holmes.
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Squatters Rent?! Is that a term they just made up? Honestly everyone has other things we could spend our money on, but we need a roof over our heads first.I could go without gas or elec as long as I have a place to stay. They better let some of that "other" stuff go and pay that mortgage. The governments main concern is getting them out of the hole they created....BY ANY MEANS
It is sad that TJ legitimizes this point of view with an interview. Everyone has to buy gas and food, not just people who default on their debts. If they didn't default these people would not stop eating and driving.