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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (441384)	12/19/2008 12:18:39 PM
From: bentway	of 1576823

Mortgage: Pay or walk away? “You have to make the best decision for yourself, businesswise, which could be walking away from the house,” said Nicole Gelinas, a chartered financial analyst and senior fellow at the Manhattan Institute, a conservative think tank. Gelinas of the Manhattan Institute said it would be unfair to portray mortgage walkers as villains because it’s not unethical to take a loss and walk away from a bad investment that might keep you stuck in a “money hole” for a decade or two. “Certainly you shouldn’t commit fraud when taking out debt,” she said. “But when it comes to sacrificing for years and years to keep servicing debt on an inflated asset when the bank lent money against the inflated asset — you can’t blame the homeowner for that.” thestate.com

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