‘Squatter Rent’ May Boost Spending as Mortgage Holders Bail

Melissa White and her husband stopped paying their mortgage in May 2008 after it reset to $3,200 a month, more than double the original rate. That gave them extra cash to pay off debts and spend on staples until their Las Vegas home sold two years later for less than they owed.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.