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What is the purpose of staying in a home where you owe 50% more than the house is worth? I understand the idea of personal responsibility, and paying your debts as agreed to, but the banks agreed to make a loan based on the homebuyers pledge of assets. Make your payments and the bank doesn't get your home. Don't make your payments and the bank gets your home, just as both parties agreed to. If the banks go out of business as a result? Good, perhaps there will be better risk analysis on home loans in the future.<br> <br> Take some time off from home-ownership and buy a home in 5 years. I'll bet that there is more upside to that than waiting for you home to rise 100% from the present value. The days of 20% annual appreciation of a home are gone for the forseeable future.
By ZAK
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