Tag Archives: Walk Away

Strategic Default is Really Just Accelerated Foreclosure

With the way things are today I don’t think it is a good idea to try and save a home at any cost. It just doesn’t make sense anymore. Continue reading

Posted in Banking and Finance, Best Of The Storm, Foreclosures, Fresh Perspectives, Strategic Defaults | Tagged Foreclosures, Mortgage Delinquency Rates, Option-Arm Loans, strategic default, Underwater Borrowers, Walk Away | 2 Comments

Bankruptcy Is A Nuclear Strike On A Credit Score… Should You Push The Red Button?

Walkaway Consequences Please consider: Snow Job: Strategic Defaults in an Era of Negative Equity As more than a million people filing bankruptcy every year learn, life continues even after their credit scores are trashed. They can still buy cars on credit. … Continue reading

Posted in Best Of The Storm, Home Economics | Tagged Bankruptcy, Credit Scores, Foreclosures, Short Sales, Strategic Defaults, Walk Away | Leave a comment

Where is the Tipping Point? Weighing The Option Of Strategic Default

The Tipping Point In a phone interview yesterday with a writer from the New York Daily News, I was asked…”Jon, where exactly is the tipping point? When do people realize it may be better to just walk away?”  This is … Continue reading

Posted in Best Of The Storm, Everything About Foreclosures, Home Economics | Tagged Foreclosures, Strategic Defaults, Underwater Borrowers, Walk Away | Leave a comment

How Do Employers Look At My Credit? Can Foreclosure Affect My Employment?

Today on CNN they talked about these VERY interesting statistics. Here are the highlights below:    (full transcript) VELSHI: And one that we’ve had in the last couple ideas has been this — this idea that there are states or … Continue reading

Posted in Everything About Foreclosures | Tagged Credit Scores, Foreclosures, Short Sales, Strategic Defaults, Walk Away | Leave a comment

BofA Walks Away & Refuses To Pay Their HOA

Banks Are Now Walking Away From HOA Fees In an eye opening interview by Chicago Public Radio on Friday, I learned of a Chicago condo owner whose building had turned into an absolute nightmare – 2/3 of the residents were … Continue reading

Posted in Banking and Finance, Everything About Foreclosures | Tagged BofA, Foreclosures, HOA, Strategic Defaults, Walk Away | 1 Comment