Fighting the good fight to keep your home?
Did you try to avoid foreclosure for as long as you could?
New data from Atlanta-based Equifax suggest many distressed homeowners in the state are fighting longer to keep their houses, AJC writer Scott Trubey reports.
The data also suggest that “strategic defaults” — when borrowers simply walk away — are less common nationally and in Georgia than previously thought, Trubey writes.
The issue of strategic default “is not as bad as everybody is talking about,” Afshin Goodarzi, managing director of Equifax Capital Markets, told Trubey.
Did you try to avoid foreclosure until all other options were exhausted? Did your lender try to help or obstruct?
Are you trying to hang on now? What’s your lender doing?
Or have you decided to walk away because the value of your home is far less than what you owe? If so, are you concerned about getting credit in the future?
- Henry Unger, The Biz Beat
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56 comments Add your comment
X-Homeowner
February 26th, 2011
8:01 am
Paid Off, I don’t think Hammond is a dead beat, actually I think he is very smart. To all of you that are so incredibly critical on here, I just hope you never lose your job. Don’t be critical until you have walked in other peoples shoes. The times in which we are living right now are desperate, people are doing what they have to do just to survive.
Trump FYI
February 26th, 2011
12:46 pm
@ FYI
FYI – You are so of crap!
morality
February 26th, 2011
7:33 pm
is bankruptcy immoral? shouldn’t all debts be paid, no matter what?
NO Excuses
February 27th, 2011
8:51 am
“I don’t think Hammond is a dead beat, actually I think he is very smart.”
Anybody that doesn’t pay back every penny they OWE is a DEADBEAT – PERIOD!
“To all of you that are so incredibly critical on here, I just hope you never lose your job. Don’t be critical until you have walked in other peoples shoes. The times in which we are living right now are desperate, people are doing what they have to do just to survive.”
Shut up and stop with the pathetic excuses like “walking in others shoes”, “people that live in glass houses should not throw stones”, the “karma” line – those of us with money in the bank paying our bills don’t care! It won’t ever happen to US. Bottom line is you did not do the right things to prevent those things from happening to you. The overwhelming majority of US did the proper financial securites to prevent what is happening you. OWN your mistakes! Times like these define who you are – so just admit you are a money-inept moron. The are NO EXCUSES for not doing the right things with your money the first day of your very first job.
No more sob stories and pity parties. Many of are sick of listening to your problems, they are simply excuses.
underwater
February 27th, 2011
8:55 am
If you are way underwater and that will not change, it makes no sense not to walk away. Both parties took a risk when they signed the deal: bank and borrower. Banks have filed bankruptcy and walked away from their loans, got bailed out by taxpayers, etc. There are no morals involved.
Double D
February 27th, 2011
12:26 pm
“Times like these define who you are – so just admit you are a money-inept moron” and resorting to hate-filled name calling clearly illustrates who, or better yet what, you are.