Earlier people used to do everything to save their house from being foreclosed by the banks. But with the recent collapse of the housing market, a lot has changed. Many people who had bought homes without paying any deposit of their own ended up having no equity in their house and their financial situation just keeps getting worse. In many such situations, people are left with no option, but to foreclose their house. [Read more…]
Is it Unethical to Walk Away from Your Mortgage?
Voluntary foreclosure, often referred to as walking away from the mortgage, has been called unethical and ruthless by some people in the financial industry. What the industry does not seem to realize is that most people who have to walk away from the mortgage do not have a choice as they are in severe financial distress. [Read more…]
