Blodget ???

How to Default on Your Mortgage and Stay in Your House

Another way that people are staying in their homes without paying their mortgage (any mortgage) is by way of the lost IOU. Many of the lenders have been bought out. Somehow, during the takover, the IOUs were lost. When the new mortgage company tries to foreclose, the homeowner goes to court and asks the judge and plantiff, 'where's the IOU'. The mortgage company can't find it and can't foreclose.

I have read an article where a dot-com millionaire is doing this exact same thing. He is squatting in a multi-million dollar home that he no longer makes payments on, and the bank can't foreclose. It's been a couple of years now...

Shame on him, but I guess if I found such a way to game the system, who knows what I MIGHT do.