Walking Away From Your Home Is Not Always the Best Option

http://www.cambridge-credit.org/ -- Some homeowners purchased homes that were simply beyond their means, while others fell behind on their mortgage payments after losing their jobs. As the housing crisis continues, theres another factor thats driving people from their homes. Some people have the money to pay their mortgage, but are simply walking away because they believe it's best for their financial situation. This action is referred to as strategic default, and it can have a long-lasting, harmful effect on your financial future. Watch this week's webisode from Cambridge Credit Counseling Corp. to learn more. Host: Community Outreach Director, Thomas J. Fox.

Category:

Education

Tags:

• mortgage
• housing
• strategic
• default
• Negative
• equity
• Defaulting
• collection
• foreclosure
• Cambridge
• credit
• counseling
• corp.
• Thomas
• fox