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Walk Away Homeowners a Bitter Pill for Real Estate

By Marcie Geffner - Inman News
Divorce. Single parenthood. Debt. Bankruptcy. These and a long list of other social behaviors were once stigmatized and kept behind closed doors away from polite society, but are now, if perhaps not completely acceptable, at least openly tolerated and in some cases, even lauded as smart lifestyle choices.
Must we now add foreclosure to the list?
The evidence is still anecdotal, but news media have begun to report that some homeowners have decided to walk away from their homes just because they have no equity and, consequently, don't want to make their mortgage payments even though they could afford to do so.
Read the rest of this story:
http://www.inman.com/opinion/guest-perspective/2008/02/2/walk-away-homeowners-are-bitter-pill-real-estate
Listen to a discussion of this story on Real Estate Radio USA:
http://www.realestateradiousa.com/blog/2008/02/12/real-estate-radio-usa-episode-57/.

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Reporter. Writer. Editor. Book reviewer. Part English major. Part MBA. Often at the beach. Always on a deadline.