Just over the weekend, I had a conversation with a friend of mine who was very underwater on her home and was seriously considering walking away from her mortgage. She read that a law professor here in Arizona said that people were too worried about morality of paying their mortgage for no good reason. (Crazy [...]
Entries Tagged as 'pilot program credit card forgiveness'
I’m $100K Underwater on My House – Should I Walk?
May 11th, 2010 · 6 Comments · Mortgages, Real Estate
Tags: credit hit·equity line·foreclosure·home values·Homeowners' Exclusion Act of 2007·IRS·payments·pilot program credit card forgiveness·underwater·Walking Away Test
Banks Propose Credit Card Debt Bailout Plan
November 17th, 2008 · 21 Comments · Credit Cards
With the latest numbers from the Federal Reserve indicating that Americans are facing $900 billion in credit card debt, the proposed bailout is probably a case of banks simply attempting to cut their losses. Seeing the writing on the wall as consumers deal with record unemployment rates, skyrocketing home foreclosures, inflated prices for goods and [...]
Tags: credit card debt bailout·credit card debt forgiveness·debt-forgiveness plan·pilot program credit card forgiveness
