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A recent report on CNBC highlights a controversial subject:

What if homeowners treated their homes and mortgages the way that business treats their non-performing assets?

See the report:



What are your thoughts? Would YOU walk away if it made more financial sense? What would the financial impact be on neighborhoods if the 1/3 of homeowners currently underwater did just that? Food for thought...

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4 Comments on What WOULD Happen if More Homeowners Chose a Strategic Walk-Away?

NOV
30
2009

Loretta,

That is exactly what Donald Trump does!!!  How's the weather?  It is great here in Laguna Beach, So. Cal!  Wish I had time to enjoy it!
8:14pm • #1
724,101 Points 223 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

It is a short term individual benefit in exchange for a long term harm to both the borrower and surrounding community. 
8:15pm • #2
1,156,857 Points 117 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

It is a debate that will continue well into 2010 and 2011.  There are large % of ARM's ready to reset in the next two years.  The rules for loan modifications don't match the needs of homeowners who are underwater.  There is a big disconnect and hopefully someone will figure it out before more owners do decide on a strategic foreclosure.
9:01pm • #3

Hey Christine--weather's great here, but not like Laguna I'll bet!

J. Philip & Cindy--you're right, I'm sure, it's not a good solution for anyone BUT the underwater homeowner, but WHAT IF...?!

Thanks for posting!
9:12pm • #4

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Loretta Buckner | Your Home Retention Expert and GREEN Consultant For Life!

Palm Harbor, FL

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