Comments on: Do The Right Thing: Walk Away http://enlightened-american.com/2010/01/26/do-the-right-thing-walk-away One person's quest to make sense of a senseless American economy and society. Mon, 13 Feb 2012 17:26:16 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Tim http://enlightened-american.com/2010/01/26/do-the-right-thing-walk-away/comment-page-1#comment-30159 Tim Fri, 05 Feb 2010 14:26:57 +0000 http://enlightened-american.com/?p=611#comment-30159 I also agree that people should consult a professional before acting But if Wall street firms do it why should individuals not. Take a look at http://www.ritholtz.com/blog/2009/12/morgan-stanleys-commercial-jingle-mail/ I also agree that people should consult a professional before acting

But if Wall street firms do it why should individuals not.

Take a look at
http://www.ritholtz.com/blog/2009/12/morgan-stanleys-commercial-jingle-mail/

]]> By: Davy Bui http://enlightened-american.com/2010/01/26/do-the-right-thing-walk-away/comment-page-1#comment-29878 Davy Bui Thu, 28 Jan 2010 15:48:23 +0000 http://enlightened-american.com/?p=611#comment-29878 Hey Zz, As I mentioned in the post, every state has different laws and people should consult with a trusted professional before making any decisions. Here's a Bloomberg article that illustrates this point: http://www.bloomberg.com/apps/news?pid=20603037&sid=aIf_vUQZFt.s CA has non-recourse mortgages but many states do not so in those situations, walking away may not be an economically sound decision. My point is that people should begin behaving like corporate America and start making economically beneficial decisions without any fear of social stigma. And yes, if walking away does benefit you, I would definitely squat as long as possible before leaving! Hey Zz,

As I mentioned in the post, every state has different laws and people should consult with a trusted professional before making any decisions. Here’s a Bloomberg article that illustrates this point:

http://www.bloomberg.com/apps/news?pid=20603037&sid=aIf_vUQZFt.s

CA has non-recourse mortgages but many states do not so in those situations, walking away may not be an economically sound decision.

My point is that people should begin behaving like corporate America and start making economically beneficial decisions without any fear of social stigma. And yes, if walking away does benefit you, I would definitely squat as long as possible before leaving!

]]> By: HelicalZz http://enlightened-american.com/2010/01/26/do-the-right-thing-walk-away/comment-page-1#comment-29864 HelicalZz Wed, 27 Jan 2010 15:56:56 +0000 http://enlightened-american.com/?p=611#comment-29864 While I don't favor walking away, negotiation with your lender should be on the table. Lower rate, lower total. It can routinely take 2 years to remove someone from their home after payments stop. So, no, don't walk away, threaten to squat. Zz While I don’t favor walking away, negotiation with your lender should be on the table. Lower rate, lower total. It can routinely take 2 years to remove someone from their home after payments stop. So, no, don’t walk away, threaten to squat.

Zz

]]>