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I’ve been hearing quite a bit recently that increasingly, homeowners are walking way from houses not because they can no longer afford their payments, but because they know their house has lost value and they don’t want to continue putting money into it.
Foreclosure’s not an easy-to-swallow consequence, of course.
But as the number of foreclosures grows, the theory goes, so will a societal acceptance. Foreclosure, in other words, won’t be the scarlet letter it once was, even though it will still pack a punch for your credit score.
Does that jive with your experience? Do you weigh those options — stay in my house, underwater, or walk away?
I’m hoping to speak with a few people asking that question this week. Click my name below to send me an e-mail.