lazzybum

Big Banks in Trouble: Huge Mortgage Write-Downs Seem Inevitable

I think personality has a lot to do with this situatuion. A greedy speculator will walk away. An honest homeowner will do whatever to keep the house and the credit rating


On Jun 22 09:24 AM doubleguns wrote:

> I think Milkweed and Gill are the two sides of the coin and we will
> probably get a 50-50 toss on this situation. Personal factors will
> dictate each persons outcome to a large part but often it will simply
> come down to how important a person views thier credit rating directly
> linked to how much pain they will tolerate.

Big Banks in Trouble: Huge Mortgage Write-Downs Seem Inevitable

I think there are very few of you in this society. $2M and 7 property ?
I think it is time for you to walk away.


On Jun 22 08:20 AM Gill wrote:

> Say what you want Milkweed (first comment), but I owe over $2M in
> mortgage debt and my homes (7) are worth about half that now. My
> "commission only" income is down substantially. I am seriously considering
> walking away from all of it and renting for the next 5 years just
> so I can get a good night's sleep. I don't believe I am alone.