One of the links below points to a post that asks the question, “Is Squatting in a Foreclosure Acceptable?” It’s rare for me to take the bank’s position on things, but in this case, I do not think squatters should be allowed to bog down a legal recourse to a default on a mortgage loan. I do like to see banks attempt to work out a payment plan before kicking someone out, but after an honest try, I think the banks should be allowed to remove the owners and collect whatever value they can from the home to offset their loss.
Instead, “squatters” should focus that same energy spent squatting on working to expand the safety net already in place for those forced out of their homes – churches, shelters, rental assistance programs, etc. Admittedly, I might feel differently if it was my family about to be tossed out on the street. Just my two cents – what are your thoughts on the subject?
The Frugal Roundup
Is Squatting In a Foreclosure Acceptable? This isn’t a full article but I thought it was very interesting question. Basically, there is a group out there that helps homeless families move into foreclosed homes until they can be sold. (@My Dollar Plan)
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