The article on Feb. 7 told of an Oakdale couple who bought their home in 1992 for $159,000 and then refinanced the home several times until today they owe $500,000. They are trying to get their lender to re-negotiate their loan. Isn't the obvious question, what did they do with the $340,000 they pulled out of their home? For someone to use their home as an ATM machine and then try to get their lender to forgive some of the debt is at best questionable.
CCIM, Prudential Commercial Real Estate