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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (41084)	3/30/2005 8:14:35 PM
From: cherrypitter	Read Replies (2) \| Respond to of 206209

Is it not true that a person in arrears on his mortgage need merely throw his keys on the desk of his contract holder? In most states there is no chance of a deficiency judgement for the contract balance- the house is sole equity for the loan. I remember this was the case in Alaska in the mid 80's during the Oil patch slow down. Lots of folks had negative equity (largely due to minimal downpayments)in their homes and condos and were allowed to walk away after giving up the keys. No bankruptcy required. Rich