Debt Articles Mortgage Related

Walking Away From Your Home Might Be The Best Thing to Do for You

It’s interesting that the banking community doesn’t want consumers to walk away from their homes when the house has lost so much value that the home is now worth less than the mortgage. But this would be the very same banking community that made these unrealistic and dubious loans to begin with during the high flying mortgage days.

More consumers are learning that it might just make good business sense to walk away from a home they can’t sell and the bank won’t allow them to sell at a loss.


READ  I'm Underwater With My Mortgage. Household Refuses to Help Me Modify My Loan. What Do I Do? - Robert



About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

2 Comments

  • I’ve written about this a little myself or, more accurately, have linked to Times articles on the same topic at my blog http://thebouncybanker.blogspot.com/. The blog portrays the efforts by a semi-fictional numerically dyslexic artist to connect with his local bank manager by writing passionate letters about the state of his own finances and a his yearning for sound financial advice. It is satirical and not intended as a source of sound advice itself but I do connect to your interesting website. As a deeply untrusting person these days that is a compliment to you and your seemingly honest website. Thanks.
    .-= Russell Christian´s last blog ..Letter to the Bank #51 =-.

Share a Comment / Leave a Reply

Scroll to Top
%d bloggers like this: