St Louis Finance Companies Troubled By Real Estate Holders Intentionally Not Paying Their Mortgages There is an increasing number of house owners in this distressed housing industry who are defiantly refusing to pay their mortgage and in essence thumbing their noses at the financial companies holding their home loans. The shame of foreclosure and also the unwillingness to pay what they contractually owe is no more a burden these house owners care to deal with that is shocking to most St Louis mortgage consumers. There are thousands who by not making their house payment are making use of these misappropriated funds to make expensive purchases or by paying down new credit card debts because of their spend thrift nature. Thus, their loose financial conduct and reckless spending can now be fed at the expense of their banker. In reality, it has become a diabolical game of 'catch me if you can because until then I ain't leaving.' It seems the problem stems from the fact that these disillusioned borrowers think that the banks or lenders are entirely accountable for what has happened in the housing industry. Therefore, they feel no moral responsibility to nor feel accountable to finish paying back their loans. Now, this is not to state that there were not hundreds of thousands of home owners who were lied to or taken advantage of during the St Louis finance and lending process not to forget those who lost their jobs through no fault of their own. However in all fairness, just as a number of Americans that purchased homes in the last five years committed nothing less than fraud on their 'stated income' lending applications or greedily purchased too much house on their small budget knowing full well they must never have bought so costly house. Recent data show that official foreclosure procedures have been initiated against almost 2000000 households. And the ability to slow these serious lending problems seems next to impossible. One other problem that borrowers and mortgage servicers will be facing are legal obstacles like foreclosure moratoriums. This doesn't even account for the rising level of pressure being handed out on Capitol Hill to not just offer more loan modifications but in turn graduate these trial solutions into permanent new loans. Another dilemma that economists are observing is the incapability and even the outright refusal of lenders wanting to manage so many national and St Louis home loans which are in default. However it now is sensible as to the thinking of a borrower. Why pay their mortgage when the average consumer was late on their house payment for 438 days before being evicted according to LPS Applied Analytics. The St Louis Refinancing Group news team and numerous real estate experts state that the number of those who are overextended and consider living 'rent free' as it were growing at a remarkable rate. And if that wasn't bad enough, new reports are showing that more than 650000 homeowners have not made a single mortgage payment in over 547 days. Folks, that is approximately 18 months. With political and consumer anger over the problem of house owners who can pay their house loan but refuse to do so may be coming to an ultimate end. There is legislation being proposed in Washington which would keep these freeloaders from making use of government sponsored funds when purchasing a future home. 7 Tips St Louis Mortgage Customers Must Understand To Prevent Credit And Debit Card Fraud For years we have been warned to be extra careful as to whom you give your credit card or debit card to whether it would be on the phone, the Internet or especially in person. 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