- Image by respres via Flickr
There is a new may of thinking about foreclosure for the American homeowner, especially the homeowner who is not in financial distress and is able to pay the mortgage payment. These homeowners are viewing their homes as bad investments and are choosing to walk away rather than pay for years on a property that may never be worth what they owe. Take a look at this video from the Today Show where homeowners who are doing just that, and notice the shift from the “guilty feelings” that generally go along with such a decision. http://today.msnbc.msn.com/id/26184891/vp/36661157#36661157
I am not advocating a position either way on a “Strategic Foreclosure”, but rather, just wanted to make note of this amazing paradigm shift and what it may mean in this economic crisis.