{"id":283,"date":"2008-02-29T19:21:12","date_gmt":"2008-02-29T23:21:12","guid":{"rendered":"http:\/\/www.amybergquist.com\/blog\/2008\/02\/29\/would-you-walk-away-from-your-home\/"},"modified":"2008-02-29T19:21:12","modified_gmt":"2008-02-29T23:21:12","slug":"would-you-walk-away-from-your-home","status":"publish","type":"post","link":"https:\/\/www.amybergquist.com\/blog\/2008\/02\/29\/would-you-walk-away-from-your-home\/","title":{"rendered":"Would You Walk Away From Your Home?"},"content":{"rendered":"

Have you heard of the term “jingle mail?” It’s hipster lingo for someone mailing their house keys back to the bank and walking away from their home. A less amusing term is “ruthless default.”<\/p>\n

Calculated Risk<\/a><\/strong> has an interesting blog<\/a><\/strong> today that consolidates a few<\/a> articles<\/a> that cover a rising trend of people abandoning their mortgages and, subsequently, their homes. I saw an article last week that claimed that 10 to 15 million households may walk away<\/a><\/strong> from their homes.<\/p>\n

But will it really be that bad?<\/p>\n

One of the regular contributors at Calculated Risk questions the lack of data<\/a><\/strong> used to support these claims.<\/p>\n

At what point would you consider walking away from your home?<\/p>\n

If you could still afford your mortgage payments and had no real reason to move, but your home was now worth significantly less (say 30%) than what you owed the bank, would you consider walking away?<\/p>\n

Do you believe that there is a moral or ethical obligation to repay the bank when you take out a loan? Or is the bank’s ability to be “repaid” by taking back the house enough?<\/p>\n","protected":false},"excerpt":{"rendered":"

Have you heard of the term “jingle mail?” It’s hipster lingo for someone mailing their house keys back to the bank and walking away from their home. A less amusing term is “ruthless default.” Calculated Risk has an interesting blog today that consolidates a few articles that cover a rising trend of people abandoning their mortgages and, subsequently, their homes. I saw an article last week that claimed that 10 to 15 million households may<\/p>\n

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