Just walking away
February 1st, 2008 by KenricInteresting concept that is starting to gain a foothold: Just walking away from your mortgage.
Personally, I see it as a strategic financial decision. Just as with any investment, there comes a time when you re-evaluate it and you have to decide whether or not to cut your losses. Many homeowners are doing that now and once it hits the mainstream I think we are going to see a huge flood of people doing it.
Here is an article from the LA Times about walking away from your mortgage. Here is a blog about it and its moral value. Finally, here’s a business based on it, Youwalkaway.com.
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