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Arctic Dave

(13,812 posts)

1. They would be foolish not to.

Reply to Huey P. Long (Original post)

Mon Jan 9, 2012, 11:29 AM

Jan 2012

By staying they are taking a longer term cut then they would by walking away and having their "credit score" go down.

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As home prices fall, more borrowers walk away [View all] Huey P. Long Jan 2012 OP

They would be foolish not to. Arctic Dave Jan 2012 #1

I think this too. Actually what I would do is buy another house Huey P. Long Jan 2012 #3

Or maybe rent to old house out? We are still paying the same rent as we were before. Rent does jwirr Jan 2012 #6

Yes! I just proposed this as well in a post below. -eom Huey P. Long Jan 2012 #10

I completely agree liberalmike27 Jan 2012 #23

Where would they go? pocoloco Jan 2012 #4

Renting would seem the best alternative. Arctic Dave Jan 2012 #5

If you want to 'own your home', simply state the rental income you will Huey P. Long Jan 2012 #9

No, anticipated rental income is not enough willing dwarf Jan 2012 #13

Well, there are ways around this. Papers can be manufactured and produced. Huey P. Long Jan 2012 #14

You didn't work for a bank, did you? Kurmudgeon Jan 2012 #22

If you are asking if I created all the derivitaves and bogus mortgage backed securtities, no. Huey P. Long Jan 2012 #31

I remember reading somewhere that many, if not most states can come after your new house cyberpj Jan 2012 #28

Waiting lists are usually long. jwirr Jan 2012 #7

I don't get the math... i_sometimes Jan 2012 #11

Sounds like 20k and about 15-20 years. (what you will miss)-eom Huey P. Long Jan 2012 #12

Call me clueless, what are you saying? i_sometimes Jan 2012 #16

People like you ( and me) are not being hurt by the housing prices dixiegrrrrl Jan 2012 #21

You aren't missing anything liberalmike27 Jan 2012 #26

This will hit the Boomers...big time KansDem Jan 2012 #2

Just thinking about the differences in generations. I am older than boomers and my generation jwirr Jan 2012 #8

Generation differences willing dwarf Jan 2012 #15

Exactly. My children are baby boomers and they are just now realizing that they need to go back to jwirr Jan 2012 #18

Extended families banding together. willing dwarf Jan 2012 #20

Curious as to how the projected year of recoverey, 2023, was determined... HCE SuiGeneris Jan 2012 #17

Happening even in New York now. closeupready Jan 2012 #19

I watched the movie "Larry Crowne" - that's what he did in the movie LynneSin Jan 2012 #24

Good to know. This plot line has good advice for some. -eom Huey P. Long Jan 2012 #27

Is America's population decreasing ? FreakinDJ Jan 2012 #30

Does owning a home even make sense for most peole these days? stopbush Jan 2012 #25

Unenlightened homeowners will walk away while enlightened homeowners will file a Quiet Title suit. ms.smiler Jan 2012 #29

Thanks for posting! I hope you help someone with this post. -eom Huey P. Long Jan 2012 #32

So the couple bought a property they could not sustain payments on.... Evasporque Jan 2012 #33

Locking, does not meet criteria for LBN, feel free to repost in GD, Good Reads or Economy. Thanks! Rhiannon12866 Jan 2012 #34