Walking Away From Your Mortgage

Is it OK for you to walk away from your mortgage if the home value has fallen far below the remaining mortgage? - - - - Larry Winget is a four-time New York Times/Wall Street Journal bestselling author. He is a member of the International Speaker Hall Of Fame. He has starred in his own television series and appeared in national television commercials. Larry is a regular contributor on many news shows on the topics of money, personal success and business. - - - - Visit Larry online at www.LarryWinget.com

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[tyronebiggums3]

Wrong answer, Winget. If there is no recourse on the State, under those conditions, WALK THE  F*CK AWAY!!

[chickcoop]

Stupid advise from Winget. Well - the banks should have just collapsed also.

It's a contract Larry! It says I'll pay the mortgage and if I don't you get the house. Both parties knew the consequences when they entered into the contract.

I can't believe this idiot is on the air.

Ok -Yes I can.

[LenoraForest]

I hope the caller walked on his mortgage. Why ruin your entire financial future because of one bad deal. Ha. Move on.

[TheGsxrwrx]

14 years Active Duty. 4 Afghanistan visits. Bought a house in KY for what was supposed to be a family. 4 1/2 yrs later, I'm told to move. Can't sell the house. Have to find place to live.

Sorry, Conglomerate Capitalist Banks, if I can't eat food, you're gonna eat a house.

[careymahoney1974]

Larry lives in a tree. Just because he has 10000 million dollars in the bank and life is good for him and his BS books, it doesn not mean that the rest of us are in this position in life.

Keep fooling others Larry. You don't have me fooled buddy.

Also, the guy that says a 140k house with a 340k note has 5-10 years before it MIGHT get value needs to wake up...

its gonna take more like 20 years!

[careymahoney1974]

Larry lives in a tree. Just because he has 10000 million dollars in the bank and life is good for him and his BS books, it doesn not mean that the rest of us are in this position in life.

Keep fooling others Larry. You don't have me fooled buddy.

[Ibuysellinvest]

Wow Im glad I do not listen to idiots

[androidestereo]

That clown with the funny shirts makes no sense. Dude, the banks created this mess by lying, overpricing properties, predatory lending, greed, ETC. Now you want me to do the right thing? Doing the right thing for me is to provide for my family. So, it's not about right or wrong here, but if it is, then then banks should be penalized first. Dude, my emotional attachment is towards my family, no towards the house.

[steelbreeze420]

Larry.i understand what you are saying....but at what point does your pride start costing your family? Exactly how much food out of your child's mouth equates to that amount of pride.

Also, what do u do when you are required to move because of employment?

[duanescot]

Tax payers bailed out the banks, it was clearly unconstitutional, why forsake your future, walk away, the thieves at the top and bloodsuckers at the bottom bleed us taxpayers dry, so fuck it, you gotta do what you gotta do in our corrupt system to survive

[miller02806]

I wonder if this Larry guy is underwater with his mortgage. So what he is saying is we should stick to the deal, but the banks haven't and still aren't? The banks walk away from bad businesses and investments all the time. The Gov' even had to bail them out, because they are so greedy. I am walking away from my house, I will never recover. I have also made every payment on time. The banks will only help out those who don't pay their bills.

[walkonhome]

The right thing is for that fag to get a different shirt and lose the earrings. larry probably says to smoke pole also.