The Great Taboo: Walking Away from Your Mortgage
The Great Taboo: Walking Away from Your Mortgage
I say go for it. Not only is it impossible for banks to win an injunction against you to cede your assets in today's anti-corporate climate, but it's so incredibly easy to buy a house after foreclosure or get a loan after short sale that you can be back in a bigger, better house within a couple of years.
I'm not saying you should back out of every contract you sign, but to put the blame on home owners for walking is just ridiculous.
We're not the ones who caused the housing bubble to burst, but nonetheless, we're expected to shoulder the consequences? I don't think so.