Mar 11
The statistics are all over the place, but it is clear that not only
are mortgage delinquencies and foreclosures skyrocketing, but millions of
homeowners are “upside-down” in their mortgages.
More and more the talking heads on television have suggested that
these upside-down homeowners should cut their losses and hand the bank
the keys to the castle. Some have even suggested that cash-stretched and
equity-poor debtors should continue paying the credit card bills even as
they stop paying the mortgage. The rationale?.