With Boone County real estate values down 10%, 20% or more—is this what will happen with many area home mortgages?
new academic paper by Brent T. White, a University of Arizona law school professor, titled "Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis."
as long as you stay current with other creditors, "one can have a good credit rating again - meaning above 660 - within two years after a foreclosure."
default "strategically:" buy all the major items you'll need for the next couple of years - a new car, even a new house - just before you pull the plug on your current mortgage lender.
Click on the following for more details: Daily Herald | Law professor writes a tutorial on walking away
The entire, original paper is available at: http://api.ning.com/files/CdXtKqMgxHL4M8EYE8FhdO8KVYCEx0nMLUYAjpPIbVo_/walking_away_paper.pdf
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