From: "Cindi Waters"
The next door neighbor was telling me, as many are here, that she is
thinking to "walk away" from her condo, a 3-bedroom which she bought a
couple of years ago and paid $131,000 for. It is a nice develpment but the
neighborhood is changing to a more crime-ridden one than it used to be. And
now that same condo is going for $31,000. She is paying much more for her
mortgage than she wants to and the bank won't reduce her interest. (8%)
------------------------
Your neighbor should be aware that if she 'walks away,' the bank can come
after her for what's due on the mortgage. You can read more here -
http://finance.townhall.com/columnists/mikeshedlock/2011/10/04/walk_away_homeowners_shouldnt_be_suprised_by_court_judgment
and here -
http://online.wsj.com/article_email/SB10001424053111904060604576572532029526792-lMyQjAxMTAxMDAwMTEwNDEyWj.html?mod=wsj_share_email
Sandaidh bean-fhigheadair a' bhreacain
sandaidh@localnet.com
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