ArnoldCountry

Time for the American Government and People To Confront Reality

I think this is fine no nonsense article. Underwater homeowners need to realize that the underwater amount is in effect an unsecured loan for tens if not exceeding a hundred thousand dollars. Sometimes, when crunching the numbers, it is best to walk from that unsecured 150k debt, take the credit ding for 3-5 years and move on. You most likely will not qualify or have availability of credit for the next 3-5 years of any significance anyway so bite the bullet and use the time to recover instead of trying to figure out how to pay back that 150k. Put the 150k away for retirement instead.