Foreclosure Consequences: Exploring “Voluntary Foreclosure”


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As unseemly as it sits with most of our consciences, voluntary foreclosure — ie, walking away from your home — may actually be the smart [financia] thing to do as examined in the article, Thoughts on Walking Away From Your Home Loan. It states:

If you’re far enough underwater, you’re probably questioning the wisdom of writing a monthly check on a place that may take 10 or 15 years to get back to the value it had two or three years ago.

This economic climate has brought about a host of financial options that most wouldn’t have even considered just a few short months ago. But, with banks failing, 401Ks dwindling and job losses mounting, the American consumer/worker is in a financial pickle. For many, desperate circumstances call for desperate measures.

If walking away from your home has crossed your mind, read this article for further insight into the foreclosure consequences you will be opening yourself up to.

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