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Posts Tagged ‘negative equity’

Walking Away From Mortgage

In Uncategorized on May 11, 2010 at 10:41 am

60 Minutes had a recent segment on people who choose to walk away from their homes due to negative equity. Doing so requires careful consideration of tax consequences and the effect on credit scores. The mortgage company can pursue you on the debt. The video is at
http://www.cbsnews.com/video/watch/?id=6470184n&tag=api

Negative Equity On The Rise

In Uncategorized on March 1, 2010 at 5:03 pm

The total number of US households with negative equity is 24% of all residential properties with mortgages. This represents an increase of 1% over the 3rd quarter of 2009. Five million people own homes with a mortgage debts exceeding home value by 25% or more.