Arizona Real Estate Notebook

“Millions of Americans are now deeply underwater on their mortgage. If you’re among them, you need to stop living in a dream world and give serious thought to walking away from the debt.

No, you shouldn’t feel bad about it, and you shouldn’t feel guilty. The lenders would do the same to you—in a heartbeat. You need to put yourself and your family’s finances first.”

The amazing thing about that quote is that is comes from the Wall Street Journal!

With this article, the recent move toward social acceptance of “walking away” from a mortgage seems to have hit the tipping point. Socially, walking away is coming to be considered somewhat like divorce, it’s unfortunate but sometimes it’s the best thing to do.