4 ms·

> Why wouldn't you? Because it's upside down? You can buy another place and owe less on it?

• supertrope 4y ago
  Unless you can buy the next house in cash you'll be waiting seven years for your credit to recover.
• Sohcahtoa82 4y ago
  No, because no matter what, I'll still owe the bank the difference between the value of the house and the mortgage balance. If I was foreclosed on, then my credit is wrecked and I wouldn't be able to get a mortgage on the new house.
  • frumper 4y ago
    I know several people that walked away from homes in 2008 and if they had a good job they bought another home for half the price down the street. Your fears didn't materialize for them. Every one of them bought nicer homes as well.
  • polski-g 4y ago
    Have your spouse pay for the new house.