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Do As Bankers Do Walk away from that mortgage Did Bernanke's housing bubble take you by surprise? Has your house become an albatross before your very eyes? Is its market value less than what you owe those guys? Then let the bank that holds the mortgage try it on for size. Dump it. Morgan Stanley speculated, then lost and walked away. Who cares if Moodys goofed and rates it Triple A? Once it's under water, it makes no sense to pay. Do as bankers do; never do what bankers say. Dump it. How 'bout fifteen minutes cheaper if you decide to rent? You'll wonder where so many of your cares and troubles went, Not why your monthly payments haven't made a dent, Nor why each year they jump by a lousy ten percent. Dump it. The banker of today is not your lifelong family friend. Those papers that you signed? Where will their journey end? Forget those grim reminders with which you must contend. Without a crippling mortgage you'll have that much more to spend. Dump it.
Bob Carlson To 'Walk Away From Your Mortgage!' |