Hold it or fold it?
It’s one thing to throw back lousy cards in a poker game and quite another to walk away from a money-losing home that you can still afford.
Yet, more people are doing just that as they find themselves “underwater,” with mortgage debts that exceed the worth of their properties.
The government, financial industry, media and other “social-control agents” have fomented a culture of fear and shame about foreclosures that’s preventing many people from abandoning properties, contends Brent White, an associate law professor at the University of Arizona.
Read more from AZ Central
Shot Sale! Do not walk away. The banks can come after you years later for the difference. Try to cooperate.