Stop Burning Money and Walk Away From Your Mortgage
According to a recent article in the New York Times, written by Roger Lowenstein, that’s exactly what some of the 10.7 million families who owe more than their homes are worth are doing. Lowenstien is not talking about the families that can’t afford to pay their mortgage. He’s talking about those who have voluntarily stopped paying their mortgage simply because it no longer makes financial sense.
In the past, such a decision would be considered socially irresponsible, unethical and just downright wrong. But, is forfeiting your home for the sake of saving money and starting fresh so terribly…immoral? Or, are these people wisely playing the game?
Feel free to voice your opinions below.
[Editor’s Note: You can read the original article by following the hyperlink above]