Tag Archives: Walking Away

Consequences of strategic default not as bad as you think

Lenders want to keep the millions who would benefit from strategic default in a state of fear and confusion to compel the borrowers to keep paying. They would prefer to publicly endorse borrowers most macabre fantasies of strategic default while quietly soliciting new customers behind the scenes. Prior to the blog era, they might have been successful. Continue reading

Posted in Foreclosures and Short Sales, Fresh Perspectives, Home Economics, Strategic Defaults, What You Need To Know About Buying and Selling Real Estate | Tagged Credit Scores, Foreclosures, Short Sales, Strategic Defaults, Walking Away | 1 Comment

FDIC “Cash for Keys” Proposal Would Pay Underwater Homeowners $21,000 to Walk Away

The five biggest US mortgage servicers were told this week at a private meeting with regulators to consider paying delinquent borrowers up to $21,000 each as part of a broader settlement of the foreclosure crisis. Continue reading

Posted in Banking and Finance, Foreclosures and Short Sales, Fresh Perspectives, Home Economics, Mortgage News | Tagged Cash For Keys, FDIC, Foreclosures, negative equity, Strategic Defaults, Walking Away | 1 Comment

Buried One Mile Deep In Economic News: Rand Paul Proposes Elimination of HUD; Churches “Walk Away”; China Hard Landing; Repeal of Davis-Bacon

Many stories of significance have come my way on housing issues, state debt issues, federal debt issues, pension issues, and other economic items of note. I feel as if I am buried a mile deep news. Here are a few stories that caught my eye.
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Posted in Banking and Finance, Foreclosures, Fresh Perspectives, Home Economics, Social Mood Swings | Tagged Davis-Bacon, Foreclosures, HUD, Section 8, Walking Away | Leave a comment

Walking Away From Boats, Blogging Fees, and Zero Luxury Condos Sold

Prospective buyers kept trying to beat down his prices, even after he shaved $30,000 off the initial list prices ranging from $240,000 for a one-bedroom, one-bath condominium to $475,000 for a two bedroom, 2 ½-bath townhouse. “There were no sales,” Rubin said. “Everyone wants a bargain. They read about foreclosures and think they can buy for distress prices.” Continue reading

Posted in Home Economics | Tagged Birth Rates, Condo Sales, JP Morgan, Stock Market, Walking Away | Leave a comment

“Morally Conflicted” One Year Later After Walking Away

The moral stigma regarding “Walking Away” is now pretty much gone. That it ever existed in the first place is quite hypocritical. Continue reading

Posted in Best Of The Storm, Everything About Foreclosures, Fresh Perspectives, Social Mood Swings, Strategic Defaults | Tagged Foreclosures, Strategic Defaults, Walking Away | Leave a comment