Should you consider a strategic default if you are underwater on your mortgage?

dennis-norman-st-louis-realtor-

Over one in four homeowners in the U.S. with a mortgage are “underwatermeaning they owe more on their homes than they are currently worth and, according to data just released from a survey by Zillow, 75 percent of them are underwater by 40 percent or more meaning it will most likely be many years until they even have the hope of seeing equity in their home again. Nonetheless, this has not deterred the majority of these underwater homeowners from “staying the course” as 59 percent said would not consider a strategic default in order to get out from under their home.

So, why not do a strategic default, or walk away?

The most common answer given by underwater homeowners for why they would not use a strategic default to get from under their homes was for moral reasons (37 percent) followed closely by those that said it didn’t make sense given that they intended to live in their current home for a long time (35 percent).

Economists surveyed don’t think strategic default is the best option either…

Zillow also surveyed economists around the country to get their take on whether underwater homeowners should consider a strategic default and nearly three-fourths of them (71 percent) said they would not strategically default, even if they owed on their mortgage at least 40 percent more than the current value of their home. There are many differing opinions on this topic and a while back I wrote about it giving differing points of view.

Print Friendly, PDF & Email

94 comments to Should you consider a strategic default if you are underwater on your mortgage?

  • … [Trackback]

    […] Find More on on that Topic: stlouisrealestatenews.com/financing/should-you-consider-a-strategic-default-if-you-are-underwater-on-your-mortgage/ […]

  • Thank you for another informative website. Where else may just I get that kind of info written in such an ideal manner? I have a challenge that I am just now running on, and I’ve been on the glance out for such info.

  • I truly appreciate this post. I have been looking all over for this! Thank goodness I found it on Bing. You have made my day! Thanks again

  • whoah this blog is magnificent i love reading your posts. Keep up the good work! You know, many people are looking around for this information, you could help them greatly.

  • Very interesting topic, regards for putting up.

  • I got good info from your blog

  • I have recently started a website, the information you provide on this site has helped me greatly. Thank you for all of your time & work.

  • Wow, superb blog format! How lengthy have you ever been running a blog for? you made running a blog glance easy. The total look of your website is wonderful, let alone the content!

  • I am now not certain where you’re getting your information, but good topic. I must spend a while finding out much more or working out more. Thank you for great information I was looking for this info for my mission.

  • It is actually a nice and useful piece of info. I am glad that you just shared this helpful info with us. Please keep us informed like this. Thank you for sharing.

  • I have been exploring for a little bit for any high-quality articles or blog posts on this kind of area . Exploring in Yahoo I at last stumbled upon this site. Reading this information So i am happy to convey that I have an incredibly good uncanny feeling I discovered just what I needed. I most certainly will make sure to do not forget this website and give it a glance regularly.

  • Really clean website , thanks for this post.

  • … [Trackback]

    […] Read More to that Topic: stlouisrealestatenews.com/financing/should-you-consider-a-strategic-default-if-you-are-underwater-on-your-mortgage/ […]

  • With havin so much content and articles do you ever run into any issues of plagorism or copyright infringement? My website has a lot of exclusive content I’ve either written myself or outsourced but it looks like a lot of it is popping it up all over the internet without my permission. Do you know any methods to help reduce content from being stolen? I’d certainly appreciate it.

  • I have been surfing online more than three hours lately, yet I never found any interesting article like yours. It’s beautiful worth sufficient for me. Personally, if all site owners and bloggers made just right content as you probably did, the internet might be much more helpful than ever before. “Oh, that way madness lies let me shun that.” by William Shakespeare.

  • F*ckin’ tremendous issues here. I am very glad to see your article. Thanks so much and i am looking ahead to contact you. Will you kindly drop me a mail?

  • Hmm is anyone else experiencing problems with the images on this blog loading? I’m trying to determine if its a problem on my end or if it’s the blog. Any suggestions would be greatly appreciated.

  • Howdy! Someone in my Myspace group shared this site with us so I came to take a look. I’m definitely enjoying the information. I’m book-marking and will be tweeting this to my followers! Superb blog and fantastic design.

  • My brother recommended I may like this website. He used to be entirely right. This post truly made my day. You cann’t consider simply how much time I had spent for this info! Thank you!

  • Wow! This can be one particular of the most useful blogs We have ever arrive across on this subject. Actually Fantastic. I am also an expert in this topic therefore I can understand your hard work.

  • I got what you intend, regards for putting up.Woh I am thankful to find this website through google. “Do not be too timid and squeamish about your actions. All life is an experiment.” by Ralph Waldo Emerson.

  • Great V I should certainly pronounce, impressed with your web site. I had no trouble navigating through all tabs and related information ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or something, web site theme . a tones way for your customer to communicate. Excellent task..

  • Heya i’m for the first time here. I came across this board and I find It really useful & it helped me out much. I hope to give something back and aid others like you aided me.

  • Have you ever thought about including a little bit more than just your articles? I mean, what you say is fundamental and everything. Nevertheless just imagine if you added some great images or videos to give your posts more, “pop”! Your content is excellent but with pics and video clips, this site could certainly be one of the most beneficial in its niche. Great blog!

  • You could definitely see your enthusiasm within the paintings you write. The sector hopes for even more passionate writers like you who aren’t afraid to say how they believe. All the time follow your heart.

  • I’m usually to blogging and i actually admire your content. The article has actually peaks my interest. I’m going to bookmark your website and keep checking for brand new information.

  • I real glad to find this web site on bing, just what I was searching for : D also saved to favorites.

  • … [Trackback]

    […] There you will find 24118 more Information to that Topic: stlouisrealestatenews.com/financing/should-you-consider-a-strategic-default-if-you-are-underwater-on-your-mortgage/ […]

  • Hi there, I found your site via Google while looking for a related topic, your website came up, it looks great. I’ve bookmarked it in my google bookmarks.

  • I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post…

  • I think this website contains some really wonderful information for everyone : D.

  • … [Trackback]

    […] Here you can find 85857 more Info to that Topic: stlouisrealestatenews.com/financing/should-you-consider-a-strategic-default-if-you-are-underwater-on-your-mortgage/ […]

  • Awsome info and straight to the point. I don’t know if this is in fact the best place to ask but do you folks have any thoughts on where to hire some professional writers? Thx :)

  • Good – I should definitely pronounce, impressed with your web site. I had no trouble navigating through all tabs and related info ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Reasonably unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your client to communicate. Nice task.

  • hey there and thank you for your info – I’ve definitely picked up anything new from right here. I did however expertise some technical issues using this website, as I experienced to reload the web site lots of times previous to I could get it to load properly. I had been wondering if your hosting is OK? Not that I am complaining, but slow loading instances times will sometimes affect your placement in google and can damage your high-quality score if ads and marketing with Adwords. Well I’m adding this RSS to my e-mail and can look out for a lot more of your respective fascinating content. Ensure that you update this again very soon..

  • I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post…

  • I love your blog.. very nice colors & theme. Did you create this website yourself? Plz reply back as I’m looking to create my own blog and would like to know wheere u got this from. thanks

  • I like the efforts you have put in this, thanks for all the great content.

  • Thanks for every other informative blog. The place else could I get that kind of information written in such a perfect manner? I’ve a mission that I am just now operating on, and I’ve been at the glance out for such info.

  • WONDERFUL Post.thanks for share..more wait .. …

  • This internet site is my intake, real wonderful style and perfect subject material.

  • I like what you guys are up also. Such smart work and reporting! Carry on the excellent works guys I’ve incorporated you guys to my blogroll. I think it will improve the value of my web site :).

  • Those are yours alright! . We at least need to get these people stealing images to start blogging! They probably just did a image search and grabbed them. They look good though!

  • I like this post, enjoyed this one appreciate it for putting up. “The difference between stupidity and genius is that genius has its limits.” by Albert Einstein.

  • Howdy would you mind sharing which blog platform you’re using? I’m planning to start my own blog soon but I’m having a tough time making a decision between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your layout seems different then most blogs and I’m looking for something completely unique. P.S Sorry for getting off-topic but I had to ask!

  • Hello, i think that i saw you visited my site so i came to “return the favor”.I am trying to find things to enhance my website!I suppose its ok to use some of your ideas!!

  • Rattling fantastic visual appeal on this site, I’d value it 10 10.

  • Enjoyed examining this, very good stuff, regards. “The hunger for love is much more difficult to remove than the hunger for bread.” by Mother Theresa.

  • Some truly choice articles on this site, saved to favorites.

  • Lovely just what I was searching for.Thanks to the author for taking his clock time on this one.

  • I’m impressed, I must say. Actually hardly ever do I encounter a weblog that’s each educative and entertaining, and let me let you know, you’ve gotten hit the nail on the head. Your concept is excellent; the issue is something that not sufficient individuals are speaking intelligently about. I’m very pleased that I stumbled across this in my seek for one thing regarding this.

  • Does your website have a contact page? I’m having a tough time locating it but, I’d like to send you an e-mail. I’ve got some suggestions for your blog you might be interested in hearing. Either way, great website and I look forward to seeing it expand over time.

  • Howdy just wanted to give you a quick heads up. The text in your article seem to be running off the screen in Opera. I’m not sure if this is a formatting issue or something to do with internet browser compatibility but I figured I’d post to let you know. The layout look great though! Hope you get the problem fixed soon. Many thanks

  • I have been surfing online greater than 3 hours lately, but I never found any attention-grabbing article like yours. It is lovely price sufficient for me. In my view, if all website owners and bloggers made just right content as you probably did, the net shall be much more useful than ever before.

  • Outstanding post, you have pointed out some superb points, I besides think this s a very great website.

  • Hello There. I found your blog the use of msn. This is a really well written article. I’ll make sure to bookmark it and come back to read extra of your useful information. Thank you for the post. I’ll certainly return.

  • Wonderful goods from you, man. I’ve take note your stuff prior to and you are simply extremely magnificent. I actually like what you’ve bought right here, certainly like what you’re stating and the way in which in which you assert it. You make it entertaining and you still care for to stay it wise. I can’t wait to read far more from you. That is really a great website.

  • I was very pleased to find this web-site.I wanted to thanks for your time for this wonderful read!! I definitely enjoying every little bit of it and I have you bookmarked to check out new stuff you blog post.

  • so much fantastic info on here, : D.

  • Hmm it seems like your website ate my first comment (it was extremely long) so I guess I’ll just sum it up what I had written and say, I’m thoroughly enjoying your blog. I too am an aspiring blog blogger but I’m still new to the whole thing. Do you have any points for newbie blog writers? I’d definitely appreciate it.

  • I enjoy your piece of work, thanks for all the useful content.

  • magnificent post, very informative. I wonder why the other specialists of this sector don’t notice this. You must continue your writing. I am confident, you’ve a huge readers’ base already!

  • Hi there very nice blog!! Man .. Excellent .. Superb .. I’ll bookmark your website and take the feeds additionally?KI’m glad to search out a lot of useful information right here in the submit, we’d like develop more techniques in this regard, thanks for sharing. . . . . .

  • My brother recommended I might like this web site. He was entirely right. This post truly made my day. You can not imagine simply how much time I had spent for this information! Thanks!

  • Thanks a lot for sharing this with all of us you actually know what you are talking about! Bookmarked. Kindly also visit my site =). We could have a link exchange arrangement between us!

  • F*ckin’ remarkable issues here. I’m very happy to see your article. Thank you so much and i am looking ahead to touch you. Will you kindly drop me a mail?

  • … [Trackback]

    […] Find More Info here on that Topic: stlouisrealestatenews.com/financing/should-you-consider-a-strategic-default-if-you-are-underwater-on-your-mortgage/ […]

  • Wonderful site. Plenty of useful info here. I’m sending it to some friends ans also sharing in delicious. And naturally, thanks for your effort!

  • I believe you have noted some very interesting details , appreciate it for the post.

  • You can certainly see your enthusiasm in the work you write. The arena hopes for even more passionate writers like you who aren’t afraid to say how they believe. At all times follow your heart. “Man is the measure of all things.” by Protagoras.

  • I’m typically to running a blog and i really recognize your content. The article has actually peaks my interest. I am going to bookmark your website and hold checking for brand spanking new information.

  • I have been checking out a few of your stories and i can claim pretty nice stuff. I will make sure to bookmark your blog.

  • It’s truly a great and useful piece of info. I’m happy that you shared this helpful info with us. Please keep us informed like this. Thank you for sharing.

  • I was reading through some of your articles on this website and I believe this internet site is rattling instructive! Continue posting.

  • Way cool, some valid points! I appreciate you making this article available, the rest of the site is also high quality. Have a fun.

  • I?¦ve recently started a website, the information you offer on this website has helped me greatly. Thanks for all of your time & work.

  • I really enjoy looking at on this internet site, it has wonderful content. “Beware lest in your anxiety to avoid war you obtain a master.” by Demosthenes.

  • F*ckin’ tremendous things here. I am very glad to see your article. Thanks a lot and i am looking forward to contact you. Will you kindly drop me a mail?

  • With havin so much content and articles do you ever run into any issues of plagorism or copyright infringement? My site has a lot of exclusive content I’ve either written myself or outsourced but it appears a lot of it is popping it up all over the web without my permission. Do you know any methods to help stop content from being ripped off? I’d certainly appreciate it.

  • Great blog! Do you have any hints for aspiring writers? I’m planning to start my own website soon but I’m a little lost on everything. Would you advise starting with a free platform like WordPress or go for a paid option? There are so many choices out there that I’m totally overwhelmed .. Any ideas? Bless you!

  • hi!,I like your writing so much! share we communicate more about your article on AOL? I require a specialist on this area to solve my problem. Maybe that’s you! Looking forward to see you.

  • What i do not understood is in truth how you are no longer actually a lot more neatly-liked than you may be right now. You’re very intelligent. You already know thus considerably in the case of this topic, produced me individually imagine it from so many varied angles. Its like women and men aren’t involved except it is something to do with Girl gaga! Your personal stuffs excellent. All the time care for it up!

  • Perfect work you have done, this website is really cool with great information.

  • I likewise think hence, perfectly written post! .

  • I’m no longer positive the place you are getting your info, but good topic. I must spend a while studying much more or working out more. Thank you for fantastic information I was searching for this information for my mission.

  • I do accept as true with all the ideas you’ve offered in your post. They are very convincing and can certainly work. Nonetheless, the posts are very quick for starters. Could you please lengthen them a little from subsequent time? Thanks for the post.

  • I was very pleased to search out this internet-site.I wished to thanks to your time for this excellent learn!! I positively enjoying each little little bit of it and I have you bookmarked to take a look at new stuff you weblog post.

  • Well I sincerely enjoyed reading it. This subject provided by you is very constructive for proper planning.

  • Great write-up, I am regular visitor of one?¦s web site, maintain up the nice operate, and It is going to be a regular visitor for a lengthy time.

  • Good V I should certainly pronounce, impressed with your website. I had no trouble navigating through all the tabs and related info ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or anything, web site theme . a tones way for your customer to communicate. Nice task..

  • I have been examinating out a few of your stories and i can state pretty clever stuff. I will surely bookmark your website.

  • I’ve recently started a blog, the info you offer on this site has helped me tremendously. Thanks for all of your time & work. “If you see a snake, just kill it. Don’t appoint a committee on snakes.” by H. Ross Perot.

  • I am usually to blogging and i really respect your content. The article has actually peaks my interest. I am going to bookmark your website and hold checking for brand new information.

  • I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post…

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>