As I was a volunteer lawyer yesterday at the Nassau County Bar Association's Foreclosure/Sandy clinic, the truth for almost all in foreclosure is that the reason a homeowner does not make mortgage payments is that the homeowner cannot afford to make mortgage payments - for a myriad of reasons.
Basically, the issue is home affordability and to emphasize this issue, a link to another article that is front page in today's Newsday:
NEWSDAY - Report: 44% of LI homeowners pay more for housing than they can afford
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