Why should a home owner keep paying on a home when they are upside down? Is there some sort of moral aspect to paying on a mortgage even when its so severely upside down that the ‘home owner’ has become…in essence…a tenant with their mortgage company as their landlord?
You might be surprised to learn that there are absolutely no ‘moral imperatives’ to pay an upside down commercial loan. Once the commercial property stops making financial sense borrowers often choose to do a ’strategic default’. This has been a normal aspect of commercial loans for years…so, why is there such a double standard when it comes to residential.
Watch this video and share your comments:
Jeremy Smiley, Realtor
Short Sale Specialist
London Properties
(559) 790-8760
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