Ordinarily, I’d say no, you shouldn’t walk away from your mortgage. It’s bad for your neighbors, bad for your credit, and bad for the economy. And besides, you’re a moral person; you’d feel icky. However, I’ve also seen countless friends and acquaintances run through their retirement accounts and their kids’ college funds and finally their emergency savings to hold on to properties until eventually they went into foreclosure or were short-sold. The owners ended up with trashed credit, no property, and no money. Some of these people are now 55 years old with no savings or investments to show for it. Retirement is looking pretty bleak. Continue reading ‘Should You Walk Away From Your Mortgage?’
- |
- |
-
(1 votes, average: 4 out of 5)
Loading ...
