There is an increasing number of home owners in this distressed housing industry who are defiantly refusing to pay for their mortgage and in essence thumbing their noses at the financial companies holding their property loans.

The shame of foreclosure along with the unwillingness to pay what they contractually owe is no longer a burden these house owners care to bear that is shocking to many St Louis mortgage customers.

There are thousands who by not making their house payment are using these misappropriated funds to make luxurious purchases or by paying down new credit card debts because of their spend thrift nature.

Therefore, 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're able to because until then I ain't leaving.'

It seems the problem is due to the fact that these disillusioned borrowers feel that the banks or lenders are totally accountable for what has happened in the housing industry. Therefore, they feel no moral responsibility to nor feel accountable to finish paying their loans.

Now, this is not to state that there were not hundreds of thousands of house owners who were lied to or cheated during the St Louis finance and lending process not to mention those who lost their jobs through no fault of their own.

But in all fairness, just as a number of Americans who purchased homes during the last five years committed absolutely nothing less than fraud on their 'stated income' lending applications or greedily bought too much house on their small budget knowing full well they should never have bought so expensive house.

Recent data show that official foreclosure procedures have been initiated against almost 2000000 households. And to be able to slow these serious lending problems seems hard.

Another problem that borrowers and mortgage servicers will be facing will be legal obstacles like foreclosure moratoriums.

This doesn't even account for the increasing amount 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.

Yet another problem that economists are noticing is the incapability and even the outright refusal of lenders wanting to deal with so many national and St Louis home loans which are in default.

But it now is sensible as to the thinking of a borrower. Why pay their mortgage if the average consumer was late on their house payment for 438 days before being evicted as per LPS Applied Analytics.

The St Louis Refinancing Group news team and various real estate experts report that the number of those who are overextended and consider living 'rent free' as it were growing at an incredible rate.

And if that wasn't bad enough, new reports are showing that more than 650000 homeowners have not made a single mortgage repayment in over 547 days. Folks, that is around 18 months.

With political and consumer anger over the problem of home owners who can pay their home loan but refuse to do so may be coming to an ultimate end. There is legislation being proposed in Washington that would keep these freeloaders from making use of government sponsored funds when purchasing a future house.

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