[FoolFromAZ]

Originally Posted by boosami

In what state do you live? People living in states with so-called "nondeficiency" judgement clauses in the foreclosure law have a loophole that basically allows homeowners to buy a new home while allowing their current home to foreclose. On top of that, it effectively eliminates the bank's ability to sue you or attempt to collect the money.

WSJ Article Link: Some Buy a New Home to Bail on the Old - WSJ.com
Foreclosure Law by State: State By State Foreclosure, Deficiency and Redemption Periods

I am from gilbert, arizona. I too read the WSJ article. Infact that article too made me thinking more about this route.