Must watch video:
Here is the bottom line…according to this professor..not only has the negative social stigma of a foreclosure gone away…but, now doing a strategic default (short sale or foreclosure) is seen as being financially smart…
What’s YOUR opinion? Please comment below.
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- Staggering Housing Data Released
- Should I buy a Fresno Short Sale or the Fresno Foreclosure?
{ 3 comments… read them below or add one }
My opinion is the banks should really strive to offer loan modifications and short sales. But if the homeowners make a decision to just walk away without attempting a loan modification or short sale there should be HUGE consequences to pay.
I agree. I blogged about it as well. Seems to me the responsible thing to do is ride it out or work out a deal.
Yes, give it your best try to work something out. Then as a last resort do a short sale.