Posted by
Defend America on Friday, November 27, 2009 10:49:30 PM
Judge wipes out $500,000 debt to punish 'repulsive' bank
Greg and Diane Horoski’s story may seem familiar. They bought their
home before the boom and, when house prices soared, increased their
mortgage to finance a small business.
Interest rates rose, health bills poured in, and then the housing
market crashed so that they ended up owing thousands of dollars more
than their bungalow was worth.
Yesterday they went to court in New York expecting to be thrown out
— but instead they emerged with their debt of $500,000 (£300,000)
written off and a mortgage-free home.
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6932535.ece