Stop Burning Money and Walk Away From Your Mortgagecomments (51) January 7th, 2010 in Blogs
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]
posted in: Blogs, business, mortgage, real estate, housing
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Caution: Hard Hat Area
Why is it that we all love to gawk at other people's stupidity and idiocracy? Because it's fun, that's why.
Caution: Hard Hat Area is a blog from FineHomebuilding.com that highlights dangerous and ill-conceived acts of home building.