Off-Topic: What do you think?

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	Name:	Talullahhound -
	Subject:	What do you think?
	Date:	1/26/2010 8:30:08 PM

Tonight on the news, there was a segment on the number of people who are just walking away from their houses and their mortgages. They interviewed a youngish man (mid-thirties, I'd say) who was walking away from his house... because he bought it at $255K and it is now worth $137K. So he is walking away becuase it is no longer an investment for him and he's having to do without things he likes and wants to pay the mortgage he owes.... It's not that he can't pay the mortgage; he just no longer chooses to, having decided it's a "bad" investment. He doesn't care that it will ruin his credit -- he'll just rent another house in his current neighborhood.

My reaction to this was "WTF???" Is it now okay to just walk away from a debt one took on, just because one has decided that it no longer serves one's interest? The report says that this is a trend.

What do you think about this?

Other messages in this thread:

View Entire Thread

What do you think? - Talullahhound - 1/26/2010 8:30:08 PM

What do you think? - wix - 1/26/2010 8:33:57 PM

What do you think? - GoneFishin - 1/26/2010 8:41:12 PM

What do you think? - Summer Lover - 1/26/2010 8:51:01 PM

What do you think? - lotowner - 1/26/2010 8:56:05 PM

That is the problem - water_watcher - 1/27/2010 6:36:04 AM

Maybe I wasn't clear - Talullahhound - 1/27/2010 7:52:35 AM

Maybe I wasn't clear - MrHodja - 1/27/2010 8:24:14 AM

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