A new academic paper by Arizona Law Professor Brent T White has people talking, called “Underwater and Not walking away: Shame, Fear, and Social Management of the Housing Crisis.”  He suggests that people walk away from their mortgages because it will take years to recoup their losses.
More interestingly, he suggests that if the 15 milllion [...]

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Should we be allowed to walk away from foreclosures?  On savingsadvice financial forums a poster called “foolfromAZ” asked the question if he should allow his home to be foreclosed upon.  I’ll post the details and discuss what his options are and if they are viable and perhaps we can all weigh in.
FFA bought at the [...]

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Since I’m running off for the weekend this is starting off a round of guest posts and preplanned posts. To start this is a post by a new blog I’ve found call The Passive Dad. It’s written by Scott and details life in CA. I enjoyed reading his blog so go check it out. Onto [...]

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Apparently a family in Georgia got a free house in 2005 from Extreme Makeover, and now they are going into foreclosure here.  So what happened?
Well 2 years after Extreme Makeover rebuilt the new home for the Harpers and paid off their exisiting mortgage, the Harpers took out a $450k mortgage only 15 months ago!  And somehow in 15 months are [...]

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