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Politics : Formerly About Advanced Micro Devices
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To: michael97123 who wrote (458435)2/21/2009 8:27:56 PM
From: combjelly1 Recommendation  Read Replies (1) of 1573851
 
"Forbid folks from walking away."

Better start quick. Most people want to stay in their homes. But if they own more than they are worth, and jobs go away, so do the people. They generally decide that it is better to start anew somewhere else.

And once that starts, values drop further. Which puts more at the verge of doing this. When they lose their jobs...

Round and round. Wash, rinse, repeat. Before you know it, most can put a house, or even several, on their credit cards. The best way to avoid this is to stem the job loss. People can live with the mortgage underwater if they can still make the note.
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