The DeMauros are still in foreclosure. But by declaring bankruptcy 11 times, they have managed to hang on to their house and to continue living there — seven years after they made their last regular mortgage payment.
Though an extreme example, the couple’s story is an increasingly common one among distressed Tampa Bay homeowners. Hundreds, perhaps thousands, are staying in their houses long after defaulting because they declare bankruptcy, challenge the foreclosure or simply sit back as their cases grind through an overloaded court system.
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Why don’t they make their mortage payment? We don’t want to live in a country where its an good thing to find loopholes instead of homoring your obligations.