As most of you do or do not know, I am a full time real estate agent. This job has been an expense the past year, which has begun to balance out the fat pockets of the years previous. So be it. There are many, many people, some very good friends, who are so freekin upside down on their mortgages right now there is no hope of ever gaining back what they thought they once had. This because the banks threw around free money for so many years. What did this do? Well, it did not actually increase the value of your home, it decreased the value of the money you were borrowing to buy those homes, and it was free! Unfortunately, now we all sit and pay, and we are going to pay for a very long time. I am not trying to push you one way or another, but those home values are not coming back, for many years. So, what is the best option for many of you? Read this link, (click on the "one click download" link then open or save if you want a copy) it is a very interesting perspective from Professor of Law, Brent White at the University of Arizona. I urge you to read this publication if you have questions about the possibility of short sale or walking away. For many, the short sale is not going to work, they simply owe too much money on their now devalued homes, the bank will not accept offers which are too low, and the banks do not want to be in the business of selling homes. For many who used the equity in their home like a giant ATM machine (thank god I refrained), refinancing their credit to death, walking may be the best option. Enough said, now back to A2B, just thought this might help some of you out there who might not know where to start. I'm out.Click
for the link to the article
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