You Can't Just Walk Away from your Mortgage

Greg Rand on Fox Business Network Varney and Co. There is a lot of talk these days about walking away from an underwater mortgage. It's not that easy. People need to know the consequences.

Category:

News & Politics

Tags:

• underwater mortgages
• mortgage default
• greg rand
• housing meltdown
• home values
• westchester county
• rockland county

[pjamesbda]

Varney is an idiot...and the Better Homes and Gardens dupe is a Bank plant. If the Bank converts your mortgage debt into a personal note, at the very worst, a backruptcy will protect you. Which is a 10 year record, not 21.

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Anyway, the Banks loaned you $10. for every $1. they actually had, and in some cases up to 18 to 1, so you have to ask yourself...WHY SHOULD I BE FORCED TO TAKE ALL THE RISK? The Banks don't, and still they get bailed out!

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WAKE UP. Stop borrowing...just STOP.

[polpotlives123]

Fox news is not news..It half truths and mostly lies!..

[Charlie12241]

If they are already in debt and can't pay their mortage what happens next? Super secret double debt? XD

[balbahut0g]

FOXbusinesNews! OF COOOOOOOURSE!

[azandhind4eva]

fuck u FOX NEWS....

[dick117]

I don't like Obama, but I hate Fox's idiots so much more. I can't think of any other "news" network where every single person sits around talking about how *terrified* they are of some politician getting a second term.

[RandOnRealEstate]

So much advice from people who did it wrong themselves. If your goal is to understand how to build wealth, listen to people who have done it, not people who have blown it.

[tommyg524]

One other thing-we the people provided the bailout for the wall st thugs, who of course take your money, do not work with you on your mortgage needs, they default themselves on deals (like the bailout itself !!), for ce us to lose everything, then go home to their high end homes,pools,elitism........f' em, walk now. do not belive this crap.

[tommyg524]

elitism:  insertion of goldman sachs into your white house.

[tommyg524]

We walked from our home, and don't care about the banking system who in turn didnt care about us. Yes, walk. Just rent for the 7 years of lesser credit, big deal,you can get store based credit cards, keep a low balance, buy a sweater here some shoes there, pay it off every month, in 7 years, the housing ind will still be bouncing back and your credit rating will be back to snuff, and you will NOT be in the hole still at an average of 150K !!! f' em back.