MN Strategic Mortgage Defaults

Millions of Americans are now deeply underwater on their mortgage. If you’re among them, you need to stop living in a dream world and give serious thought to walking away from the debt.

No, you shouldn’t feel bad about it, and you shouldn’t feel guilty. The lenders would do the same to you—in a heartbeat. You need to put yourself and your family’s finances first. Read the rest at MaryAlice Short’s blog, the Minnesota Short Sale Expert.

1 comment

#1arliejacobsApril 14, 2010, 11:46 pm

Strategic default may be a best strategy for navigating the housing crisis.Strategic default walking away from your home and mortgage—is getting more common. The interesting part is who is doing it: according to a recent study, people with good credit. For such consumers, strategic default may be the best of a range of bad options.
london flats

Add your comment

Nickname:

E-mail:

Website:

Comment:

Anti-Spam:

What is the sum of two + five ?

Other articlesgo to homepage

	Foreclosure Rates Stay Steady, but Serious Delinquencies Decline(0) We have not seen the bottom of this foreclosure market yet. This is especially true in the winter season and an uncertain political climate. While there is a bright note that the FHA has once again waived the Anti-Flipping rule to allow people to rehab homes and sell them quickly there are other gloomy stats. CoreLogic’s [...]

	Low Ball Offers on Foreclosures-Revisited(0) I wrote a post about how to write a low ball offer on bank owned foreclosure properties in September 2010. You can review that low ball REO post here. I think that all of my original thoughts remain. Surprisingly though, I get many questions about this process. One example is that there are 74 comments [...]

	A Terrible Bedfellow(0) I have had two different customers call me in the last 6 months saying that their tenants have found bedbugs in their units. Unfortunately, both of these calls were from customers that owned 4-plexes. It turns out that bedbugs have become an increasing problem in the last couple years. More international travel and the bedbugs [...]

	Great Posts by Other Agents(0) I was reading posts on several of the other agents blogs over the weekend. I found some excellent posts that I wanted to share with anyone that reads this blog. Steve Howe posted a little insider information on his Minnesota First Time Home Buyers blog about how the typical Minnesota MLS search that you find on [...]

	Coming to a REO Near You(3) As we all know, in certain areas, vandalism of vacant houses is almost expected. When I am touring some neighborhoods, I am almost surprised when the copper water lines have NOT been stolen. I saw a house in North Minneapolis a couple years ago that had something that looked like steel plates over the windows. [...]