Yes we are, and it makes no financial sense to continue paying on a 100,000+ loan that the bank will not negotiate when the actual property value has dropped to less than 40,000 apparently due to no fault of the buyer. The fact is that the initial value of the property in question was not determined by anything more than what the bank was willing to loan thinking only to increase their own assets at the borrows risk. Keep in mind that a bank's assets are the borrowers liabilities, and that is how we got into this mess in the first place.
Dale in the Flat Lands
Roger wrote:
Are we still talking about walking away from a house here?
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