Sunday, 6 September 2009

Would you default on your mortgage, even if you could afford to make the monthly payments?

26% of says YES, found research by Northwestern University.

I like the finding about:

When negative equity rose to $50,000, 7 percent of those who consider strategic defaults to be immoral said they'd walk away. At $100,000 negative equity, 22 percent would do so. At negative $200,000, 37 percent of those with moral objections would nonetheless default, and at $300,000, 38 percent said they would.
As negative equity is rising rapidly and, in many metro it has exceeded 50% of all home owners, it looks like we will see more and more foreclosed or short sale houses!

Happy Investing!!!!


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