I am for "strategic default" and have no moral hangups about it. The banks lose absolutely nothing when a home is in foreclosure because

Asked by Jim Hathaway, Pinal County, AZ Fri Apr 2, 2010

the gov't (Obama programs) pay back the bank and they end up sitting pretty.

My last payment was 4/1/2010 and now I can live for many months free in my home and put the mortgage payments in savings and take the FICO hit without blinking an eye. Looking forward to renting after 35 years of paying mortgages.
I live in AZ; Pinal County and have researched the subject. Bring it on.

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Dan Chase, Home Buyer, Texas City, TX
Fri Apr 2, 2010
I guess if standing by your word means nothing to you no one can say anything. I just hope you did not teach your kids the same lack of respect and integrity you are showing here.

You can not justify bad behavior by pointing to other bad behavior. BOTH are wrong.
1 vote
Jesse Romero, , Scottsdale, AZ
Sat Apr 3, 2010
Or you could rent your home from an Investor that would like to add a rental to his portfolio. There are many Investment based companies like AILAZ.com that reps Investors. Short selling it to one of them could be a good option.

Web Reference:  http://RealtyBlurb.com
0 votes
Hannah Flieg…, Agent, Larkspur, CA
Sat Apr 3, 2010
Hi J

You say you will take the credit hit and bring it on....Actually if you filed a Qualified Written Request to the lender... File it with the customer service department, then the lender cannot report you late on your mortgage. This would allow your other credit to remain in good standing. In the end you would have no late payments...just a foreclosure on your credit profile.

I certainly wish you good luck..I think you will be there for 18 months rent free as the banks are so backed up.

Hannah Fliegel
The Credit Repair Expert
0 votes
Don Tepper, Agent, Burke, VA
Fri Apr 2, 2010
Nah. You already know what we're going to say.

I'm just a bit surprised at your age. Not to be age-ist, but I usually see that attitude from some Gen-Xers. (To all you Gen-Xers who are responsible--and that's most of you--that comment isn't directed at you.) If you've paid mortgages for 35 years, you're solidly a Baby Boomer. And usually their attitudes are a bit different.
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