Originally Posted by
PilotFrog
Interesting webpage for all of those who might be upside down in their house right now. This has nothing to do about moving and commuting, just something I saw on 60 minutes. I say if you can walk away, screw the banks, aren't they the ones that let the mortgage crisis happen and caused the value of homes to plummet anyway?
No, they weren't. The reason housing prices collapsed is because banks lent money to people who
promised to pay it back. Too many people didn't keep their promise and walked away. When they did so they didn't screw the banks, they screwed the rest of us who do pay their bills and keep their promises. Now you offer this website as an example of how to walk away from your mortgage. Is anyone surprised now that banks don't want to lend?
Carl