Should homeowners walk away from underwater mortgages?

Most Americans are opposed to the idea according to recent survey

Dennis Norman St LouisThere have been several stories published on this site concerning borrowers that are “underwater” (owe more on their home than it is currently worth) and whether they should simply “walk-away” or do a “strategic default” in order to get out from under their problem. We have published views from both sides of this argument and both sides have made good points in support of their position. However, according to a survey conducted by FindLaw.com, it is clear that the majority of Americans, 60 percent to be exact, believe it is “never OK” for homeowners to walk away.Of those surveyed, 34 percent do feel it is OK for homeowners to walk away from mortgages but only if they aren’t able to make the monthly payments. Only 3 percent believe that homeowners should be able to walk away from mortgages anytime they want.

“Many homeowners are currently facing very difficult and complicated situations involving their home mortgage, in some cases even including the threat of foreclosure,” said Stephanie Rahlfs, an attorney and editor for FindLaw.com. “But before making any major decisions, homeowners should consult with financial and legal professionals, including accountants, real estate attorneys and financial advisers. Any major change to a mortgage situation could lead to serious and unanticipated consequences involving taxes, contract law, credit scores, ability to borrow in the future, potential for lawsuits, and much more.

“Various government programs and tax changes involving mortgages have been enacted since the beginning of the housing crisis,” continued Rahlfs. “Combined with private programs and variations in state laws, it creates a complicated web of potential actions available to homeowners, who should carefully consider the benefits and drawbacks of their decisions.”

Free online resources such as the FindLaw Real Estate Center (realestate.findlaw.com) can provide helpful information on mortgages, foreclosure and the legal implications of real estate decisions, as well as help finding a local attorney who specializes in real estate law.

Print Friendly, PDF & Email

64 comments to Should homeowners walk away from underwater mortgages?

  • Sweet blog! I found it while browsing on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Thank you

  • Hello my loved one! I want to say that this article is amazing, great written and come with almost all important infos. I would like to peer extra posts like this .

  • Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You clearly know what youre talking about, why throw away your intelligence on just posting videos to your site when you could be giving us something informative to read?

  • Hello.This article was extremely fascinating, particularly since I was browsing for thoughts on this issue last couple of days.

  • It is appropriate time to make some plans for the future and it is time to be happy. I’ve read this post and if I could I desire to suggest you some interesting things or advice. Perhaps you could write next articles referring to this article. I want to read more things about it!

  • The very crux of your writing while appearing reasonable at first, did not sit very well with me personally after some time. Somewhere throughout the sentences you managed to make me a believer unfortunately only for a short while. I however have got a problem with your leaps in assumptions and one would do nicely to help fill in those breaks. In the event you can accomplish that, I could undoubtedly end up being impressed.

  • Some times its a pain in the ass to read what people wrote but this internet site is rattling user friendly! .

  • I simply needed to appreciate you again. I am not sure the things that I would’ve done without the pointers discussed by you on that concern. Entirely was a real depressing crisis in my position, however , being able to see a new well-written style you resolved it took me to cry for fulfillment. I’m just happy for this advice and even trust you know what a powerful job you’re providing educating others through a web site. I know that you’ve never encountered any of us.

  • I have to convey my admiration for your generosity for people who need guidance on this particular area of interest. Your very own commitment to getting the message around became certainly invaluable and has specifically helped men and women much like me to achieve their ambitions. Your amazing valuable help and advice means a lot to me and further more to my peers. Many thanks; from each one of us.

  • Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You clearly know what youre talking about, why throw away your intelligence on just posting videos to your weblog when you could be giving us something informative to read?

  • I very like this blog. Everything is cleared.

  • I like what you guys are up too. This type of clever work and reporting! Keep up the very good works guys I’ve included you guys to my personal blogroll.

  • Some genuinely nice and utilitarian info on this website , likewise I think the design has got superb features.

  • web

    F*ckin¦ awesome issues here. I¦m very happy to peer your post. Thank you a lot and i am taking a look ahead to touch you. Will you please drop me a e-mail?

  • Great post. I was checking continuously this blog and I am impressed! Very helpful information specially the last part :) I care for such info a lot. I was seeking this particular information for a long time. Thank you and best of luck.

  • We are a bunch of volunteers and starting a new scheme in our community. Your site offered us with helpful information to work on. You have performed an impressive job and our entire neighborhood will likely be thankful to you.

  • Hello! I could have sworn I’ve been to this site before but after checking through some of the post I realized it’s new to me. Nonetheless, I’m definitely happy I found it and I’ll be book-marking and checking back often!

  • … [Trackback]

    […] Read More Info here to that Topic: stlouisrealestatenews.com/real-estate-market/should-homeowners-walk-away-from-underwater-mortgages/ […]

  • Your place is valueble for me. Thanks!…

  • I like this web site very much so much great info .

  • Great post, I believe website owners should learn a lot from this website its rattling user genial.

  • Thank you for the sensible critique. Me and my neighbor were just preparing to do a little research about this. We got a grab a book from our area library but I think I learned more clear from this post. I’m very glad to see such wonderful info being shared freely out there.

  • Hello. remarkable job. I did not anticipate this. This is a great story. Thanks!

  • Some genuinely nice and useful information on this web site, besides I think the pattern holds superb features.

  • You made several good points there. I did a search on the theme and found mainly persons will agree with your blog.

  • Rattling superb information can be found on web blog. “There used to be a real me, but I had it surgically removed.” by Peter Sellers.

  • There may be noticeably a bundle to find out about this. I assume you made sure good factors in options also.

  • Its like you read my mind! You seem to know a lot about this, like you wrote the book in it or something. I think that you can do with some pics to drive the message home a little bit, but instead of that, this is excellent blog. An excellent read. I’ll certainly be back.

  • Excellent blog here! Also your site loads up fast! What web host are you using? Can I get your affiliate link to your host? I wish my website loaded up as fast as yours lol

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

  • I discovered your blog site on google and check a few of your early posts. Continue to keep up the very good operate. I just additional up your RSS feed to my MSN News Reader. Seeking forward to reading more from you later on!…

  • After study a few of the blog posts on your website now, and I truly like your way of blogging. I bookmarked it to my bookmark website list and will be checking back soon. Pls check out my web site as well and let me know what you think.

  • … [Trackback]

    […] Find More on that Topic: stlouisrealestatenews.com/real-estate-market/should-homeowners-walk-away-from-underwater-mortgages/ […]

  • … [Trackback]

    […] Information to that Topic: stlouisrealestatenews.com/real-estate-market/real-estate-market-general/should-homeowners-walk-away-from-underwater-mortgages/ […]

  • I wish to voice my respect for your kind-heartedness supporting persons that have the need for guidance on in this topic. Your personal dedication to passing the message all around had become unbelievably beneficial and have surely made women much like me to reach their objectives. Your personal warm and helpful tutorial indicates so much to me and further more to my office workers. Many thanks; from all of us.

  • hello!,I like your writing so a lot! percentage we be in contact extra approximately your post on AOL? I need a specialist on this area to unravel my problem. May be that’s you! Taking a look forward to look you.

  • … [Trackback]

    […] Read More to that Topic: stlouisrealestatenews.com/real-estate-market/real-estate-market-general/should-homeowners-walk-away-from-underwater-mortgages/ […]

  • I like this weblog so much, saved to my bookmarks. “To hold a pen is to be at war.” by Francois Marie Arouet Voltaire.

  • Oh my goodness! a tremendous article dude. Thanks Nonetheless I am experiencing difficulty with ur rss . Don’t know why Unable to subscribe to it. Is there anybody getting an identical rss downside? Anyone who knows kindly respond. Thnkx

  • I just want to mention I am beginner to blogging and seriously enjoyed your blog. Likely I’m likely to bookmark your blog post . You absolutely come with great articles and reviews. Appreciate it for sharing your web page.

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

  • I am curious to find out what blog system you’re using? I’m having some small security problems with my latest blog and I’d like to find something more secure. Do you have any suggestions?

  • Great paintings! This is the kind of info that are meant to be shared around the net. Shame on Google for now not positioning this publish higher! Come on over and visit my website . Thanks =)

  • I think this website has got some very wonderful information for everyone. “A man’s dreams are an index to his greatness.” by Zadok Rabinwitz.

  • You can definitely see your skills in the work you write. The world hopes for even more passionate writers like you who are not afraid to say how they believe. All the time go after your heart. “What power has law where only money rules.” by Gaius Petronius.

  • Pretty section of content. I just stumbled upon your site and in accession capital to assert that I get actually enjoyed account your blog posts. Anyway I will be subscribing to your feeds and even I achievement you access consistently rapidly.

  • Normally I do not read post on blogs, but I wish to say that this write-up very pressured me to check out and do it! Your writing taste has been amazed me. Thank you, quite great post.

  • I’ve recently started a site, the information you provide on this website has helped me greatly. Thanks for all of your time & work. “My dear and old country, here we are once again together faced with a heavy trial.” by Charles De Gaulle.

  • Great write-up, I¦m 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.

  • Thank you for sharing with us, I conceive this website truly stands out : D.

  • I’ve been absent for a while, but now I remember why I used to love this website. Thanks , I will try and check back more often. How frequently you update your web site?

  • I’d need to examine with you here. Which isn’t something I usually do! I enjoy reading a put up that can make people think. Additionally, thanks for permitting me to remark!

  • Hey There. I found your blog the use of msn. This is a really smartly written article. I will be sure to bookmark it and come back to learn extra of your useful information. Thank you for the post. I will definitely comeback.

  • Greetings! Quick question that’s completely off topic. Do you know how to make your site mobile friendly? My website looks weird when viewing from my iphone4. I’m trying to find a template or plugin that might be able to fix this problem. If you have any recommendations, please share. Appreciate it!

  • whoah this weblog is fantastic i really like studying your articles. Stay up the good work! You already know, many people are searching around for this info, you can aid them greatly.

  • Woh I enjoy your content, saved to my bookmarks! .

  • Hello.This post was extremely fascinating, especially because I was searching for thoughts on this issue last couple of days.

  • We are dedicated to the breeding of the finest quality, sweet-tempered rough-coated pug puppies at the most reasonable prices. We take great pride in the feedback received from purchasers of our puppies that their puppies have grown up to be very social and friendly adult dogs.
    Our Website Link:

  • I will immediately grasp your rss as I can’t find your e-mail subscription link or newsletter service. Do you’ve any? Please let me recognize so that I may subscribe. Thanks.

  • I?¦ve recently started a web site, the info you offer on this web site has helped me greatly. Thank you for all of your time & work.

  • Thanks – Enjoyed this post, how can I make is so that I receive an email sent to me when you publish a fresh article?

  • Very interesting topic, thanks for putting up. “I do not pretend to know where many ignorant men are sure-that is all that agnosticism means.” by Clarence Darrow.

  • hey there and thank you for your info – I’ve certainly picked up anything new from right here. I did however expertise several technical issues using this web site, since I experienced to reload the site many 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 sluggish loading instances times will very frequently affect your placement in google and can damage your quality score if ads and marketing with Adwords. Anyway I am adding this RSS to my e-mail and can look out for much more of your respective interesting content. Ensure that you update this again soon..

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>