As home prices fall, more borrowers walk away

[ms.smiler]

55. Huey P. Long, please permit me to respectfully disagree with what you stated.

You appear to be a reasonable and well informed individual, but there is another option for you to consider.

You stated, “That’s why just walking away is the answer.”

We both understand the reasons why homeowners may choose to strategically default. Leaving the home for the banksters though, is not in the homeowners’ best interest. The homeowner has more money in the property than the banksters.

The homeowner owns the home, it is their property. Given the failed and fraudulent securitization of mortgage loans, it is very unlikely that any party can prove a valid debt and a valid lien upon the property.

If the homeowner would instead find competent legal counsel and file a Quiet Title suit, the homeowner could hold the banksters accountable for their wrongdoing, obtain a valid Deed, clear their property Title, relieve themselves of supposed debt, and obtain money damages.

I filed suit because I came to understand that there were parties who owed me more money than I MIGHT owe on my mortgage loan.

Walking away is one answer, but not the best answer. Years from now these strategic defaulters will be surprised to learn that they legally still own these homes.