Submit a Story!
Votes
topics:

vote down flag
More walk away from homes, mortgages
usatoday.com - 11/3/2009
More walk away from homes, mortgages
—
The home had been appraised at $390,000 when she refinanced in 2006, but she estimates it's not worth the $320,000 it initially cost in 2004. So Sakson did what a growing number of homeowners are doing today: She stopped paying and decided to let the bank take her home. "I'm walking away from my ...

Blog Reactions

The Mess That Greenspan Made:  Tuesday morning links

Fund My Mutual Fund:  Nearly 600,000 Americans Walked Away from their Mortgage in 2008

Comments
Blog Reactions

Tuesday morning links
The Mess That Greenspan Made — ... economic growth to exceed 10% in Q4 - CHINADaily How and why China will flood the gold market - StockHouse China property sales may get boost before year end - MarketWatch Australian central bank hikes policy rate for second month - MarketWatch Spain’s Jobless Claims Extend Climb - WSJ Economics Carmakers keen on auto finance arms - CHINADaily BOJ: Recovery to moderate into 2010 - MarketWatch REAL ESTATE More walk away from homes, mortgages - USA Today 30 mortgage modification companies being ...

Nearly 600,000 Americans Walked Away from their Mortgage in 2008
Fund My Mutual Fund — ... economy going again is fine by me - even people who live "rent free" for a year in excellent housing accomodations that they put nothing down in the first place to "own" before slipping away into the night - I'm all for it.  All that money not paid for mortgages simply means more moolah to spend on other items which will help us drive the market up on "green shoot" retail spending reports. Just consider it another form of stimulus - the Homeowner Self Stimulus Act. Via USA Today: The home had been appraised at $390,000 when she refinanced ...

Related Content
Professor advises underwater homeowners to walk away from mortgages -
latimes.com 7 days ago — Reporting from Washington - Go ahead. Break the chains. Stop paying on your mortgage if you owe more than the house is worth. And most important: Don't feel guilty about it. Don't think you're doing something morally wrong. That's the incendiary core ...
A reminder: You must be able to walk away from a deal…
dtod.wordpress.com 10/4/2009 — We all know this, but we sometimes forget, or get lazy or worse of all allow emotional insecurities, like wanting to be liked and appreciated and thus adjusting ones actions to accommodate others emotional needs, and thus we do not walk away from a deal at the right moment. Another parallel ...
He’ll walk the line — for $15
ottawacitizen.com 11/4/2009 — OTTAWA — An unemployed Gatineau man has been doing a modest but steady business in the past week by standing in line at flu clinics for people who can’t line up themselves. And he says the city’s security measures haven’t slowed him down. For ...
More Homeowners ‘Upside Down’ on Mortgages - Developments
blogs.wsj.com 8/5/2009 — Home price declines may be luring more home buyers back to the market, but they’re also leaving more American homeowners with negative equity. Some 24% of owner-occupied homes had mortgage debt that exceeded the values of those homes at the end of ...
Energy Dept. walks the walk with smart building
news.yahoo.com 18 days ago — GOLDEN, Colo. Homes and office buildings consume three-quarters of U.S. electricity, and the National Renewable Energy Laboratory wants to lower that figure by erecting what it believes will be the largest "net-zero" energy building in the world one ...
In Deep: Underwater Borrowers Now 23% Of All Mortgages (47% Of California Mortgages Have Negative Equity)
dailybail.com 9 days ago — See the interactive graphic with state-by-state data HERE >> The proportion of U.S. homeowners who owe more on their mortgages than the properties are worth has swelled to about 23%, threatening prospects for a sustained housing recovery. Nearly 10.7 million households had ...