Walking Away

Built on Jenga Blocks, Home Prices Look Shaky

February 2, 2010

The Homebuyers’ Tax Credit, in many ways, has done exactly what it was suppose to do – stimulate the economy. Notice I didn’t say increase home ownership. The tax credit was never really about buyers. It was about keeping home values stable so the housing sector would not have another wave of foreclosures that would [...]

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The Cost of Walking Away

January 29, 2010

There is a very interesting cultural change taking place throughout the country. And it is the direct result of the current challenges in the housing sector. It seems that there is a wave of support for the concept of walking away from your financial obligations in regard to your mortgage. The stigma attached to those [...]

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Walking Away from Negative Equity

January 22, 2010

Today let’s look at negative equity and attempt to determine what impact it will have on a housing recovery in 2010. Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgage than their homes are worth. Negative equity can occur because of a decline in value, an [...]

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Stephen Colbert: Walking Away & Being Honor Bound

January 21, 2010

Hello KCM Community, Steve Harney had scheduled to post on the impact of walking away from mortgages today, but with the release of the new FHA guidelines we called an audible and brought in our guest blogger, Dean Hartman, for a special report. If you were anticipating Steve’s post for today, we apologize. But we [...]

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The Impact of Foreclosures on Real Estate in 2010

January 18, 2010

Going into 2010 things were looking rather ‘bullish’ for the housing industry. Sales were up and prices seemed to be stabilizing. But in the last few weeks we are starting to see how fragile the recovery actually is. Obviously, when the government ends its support after the first quarter (no longer holding down interest rates [...]

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Strategic Defaults: Naughty or Nice?

December 23, 2009

You can’t pick up a paper or turn on a television today without hearing about the foreclosure situation in this country. There is no doubt the current economy and unemployment numbers have devastated the finances of many families and thus made it impossible for them to pay their mortgage. However, what many don’t realize is that [...]

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