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know you are popular..., when 60 Minutes covers you in depth.
========== From: CR
know you are popular..., when 60 Minutes covers you in depth.
========== From: CR
Monday, May 10, 2010
by CalculatedRisk on 5/10/2010 07:11:00 PM
Here is a 60 Minutes piece on Walking Away, aka 'Strategic Defaults' and as ' Ruthless Defaults' by lenders.
Just a note - anyone considering this should talk to an attorney, and they should also talk with their lender. If it can be arranged, a short sale is much better than a foreclosure for all parties ...
----------- From CBC = 60 Minutes
Strategic Default: Walking Away from Mortgages
Mortgages: Walking Away
May 9, 2010 4:53 PM
Just a note - anyone considering this should talk to an attorney, and they should also talk with their lender. If it can be arranged, a short sale is much better than a foreclosure for all parties ...
----------- From CBC = 60 Minutes
Strategic Default: Walking Away from Mortgages
Mortgages: Walking Away
May 9, 2010 4:53 PM
It's estimated that one million Americans walked away from homes "underwater" or worth less than their mortgages even though they could afford the payments. Morley Safer reports on this trend, called strategic default, that threatens the economic recovery.
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- VIDEOMortgages: Walking Away
It's estimated that one million Americans walked away from homes "underwater" or worth less than their mortgages even though they could afford the payments. Morley Safer reports on this trend, called strategic default, that threatens the economic recovery.
VIDEOExtra: Walking Away From A Mortgage
Chris Deaner of Sun City, Arizona tells Morley Safer of "60 Minutes" why he walked away from his home mortgage.VIDEOExtra: The Case For Walking Away From Your Mortgage
Brent White, a law professor at the University of Arizona does the math and explains why walking away from your mortgage might make financial sense.
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