Check out this page for information on what you should do before walking away.
UDPATED: 18 Mar 09. Summation of update: if the lender won’t agree to a short sale, you are better served by bankruptcy than a foreclosure (as Nevada is a deficiency state).
UPDATED: 12 Dec 09. The information contained is this post is still extremely relevant today. Nothing has fundamentally changed for the homedebtor. If anything, it’s become worse. Anecdotal evidence from a recent conversation with a friend (via an FBI agent) is that lenders are beginning to pursue homedebtors who choose foreclosure for the deficiency balance. Folks, don’t walk away. Short sale the property, or declare bankruptcy.
…the irony of the MBA ditching this investment, while moralizing that homeowners should continue to pay their mortgages, is…well, quite ironic.
…as you can see, the site is back up! Still not sure what took it down, but no matter, we’re back in business.
…I believe this is known as “strategic default”. At least, it is when the homeowner does it.
If you haven’t signed up for Google Voice, you’re missing out. It really is that cool.
…if you run a blog, you should seriously consider WordPress as a CMS. With ScribeFire, you can cross post content to multiple blogs (such as this post).
That is all.
…just received an email that links to an article detailing a 2012 “recovery” for Las Vegas. Not going to happen, folks. This analyst (who doesn’t live here) is predicating her forecast on a huge variable: employment. I predict Vegas is headed the way of Detroit – not to the same extent, but headed in that direction.
BoA is set to release 6,000 homes in the next year onto an already flooded market. Consider that this is not even the amount of homes they took back in one month at the end of last year.
I agree that there’s a massive second wave of defaults and foreclosures coming.
Bank of America to release homes – Business – ReviewJournal.com
This is positive news. I will definitely be calling AT&T on Monday to take advantage of this change.
AT&T Matches Verizon With $69.99 Unlimited Voice Plans. iPhone Not Included (But Also Cheaper).
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