Quote:
Originally Posted by tripods68
You are not alone for doing this.
Many I know both my neighbors and acquaintances have simply walk out and handed the keys to the bank without even going through the foreclosure process. A buddy of mine, simply walk out the door, took all their stuff and got another REPO home for $200K less which reduced their mortgage by $1500 a month. I certainly don't approved of this act personally, but it has become the "norm" in today's housing turmoil. To them, it just another business "as usual" as long they don't plan in moving or buying another home in the next 7 years. That's how long Foreclosure stays in credit report. Is it justified, probably so if your the one is suffering financially. It's easy to judge someone and blame to "certain" group of people what has happen to the entire financial collapse and the irresponsible our society has become. I'm won't judge you. However, being a family man you have to do the best thing for your family. That i know.
ONe thing have you discussed this with your wife? I think this decision has to be made by you and your wife.
|
Thats what I was thinking exactly. That would reduce atleast $1000 every month. moreover I dont have to worry whether housing market comes back up or not. My rent would be $1000 even if I stayed in the apartment so I dont have to worry about house apreciation.
Yes I have discussed with my wife about this. I have to somehow get rid of my CC debt from my name without that I cant think of FC.