Even With The Real Estate Crisis, Walking Away From That House Is Not A Good Idea
In the midst of the real estate boom, a number of homebuyers extended themselves financially to buy a house that may have been beyond their means. With the market on fire, people were prone to buy with low introductory interest rates and interest-only loans. They believed that their income would increase to meet their payments and predicted that real estate prices would never fall. Unfortunately, adjustable-rate mortgages have adjusted and monthly mortgage payments have gone up. Couple that with the fact that income hasn’t increased, and you will see why more people have fallen behind with their mortgage payments.

































