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'Strategic default' losing stigma as homes go deeper underwater

More Americans than ever are showing a willingness to walk away from their underwater homes, according to a recent survey. Chris Kelly is a perfect example of someone who never thought she would send the bank "jingle mail" — mailing the keys back. But she did ...

Category:

News & Politics

Tags:

• homeowners
• mortgages
• ben
• pargman
• short
• sales
• real
• estate

[BenPargman]

WOW - one of the few! an increase in value from 2007 to today...that's rare - curious ...what part of the country you in?

[macpduff]

The banks have been stupid and pushed people.

[tybaltromeo]

I defaulted on my 400k nightmare in 2009. I'm living rent free, squatting for 15 months.

When I asked for a loan mod, the bank agreed, only to tell me later to miss 3 payments in order to qualify.

They then asked for the 3 missed payments = 9000, and refused to not foreclose.

[Boomer1949]

If it were just a couple thousand in difference, no. But if we are talking about 10k or more, yes I would. It's very hard to wait out or live out that difference. I've been pretty lucky so far, my property has held and even improved in value since I purchased it in 2007. So for now, we are staying.