Are You a Sucker If You Keep Paying on an Underwater Mortgage?

[Savoir Faire]

Originally Posted by alphamale

No.

You didn't agree to keep up your payments as long as the house is worth more than you owe.

This foreclosure epidemic is a real problem.

If you foreclose simply because you owe more than it's worth, you're a pig.

Probably a wealthy pig, as wealthy people are more likely to do strategic foreclosure than lower income people.

[ergohead]

Originally Posted by MIKEETC

I entered the contract of my own freewill with a full understanding that homeownership is not a guarantee of anything and that home values can decrease. I will honor the contract and all of its details.



What did he have to say about walking away from an obligation?

In his day, there were duties and responsibilities.

You live in a world of obligations and liabilities.

You are a 14th Amendment, corporate person.