• Since the beginning of December, I’ve advised 60 people to walk away. Everyone has lost hope. They don’t qualify for modifications, and being on the hamster wheel of paying for a property that is not worth it gets so old.
• Scottsdale, Ariz.-based mortgage broker Steve Walsh • Regarding the depressing, sad state for many homeowners – many who giving up on their homes due to mortgages that cost more than the homes are actually worth. 4.5 million homeowners have homes that are worth just 25% or less than the cost they paid. Many are choosing to foreclose rather than stay stuck in a property they don’t want. source

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