“Millions of Americans would be better off financially if they did walk away”

(Source: Associated Press)


Stop paying your mortgage.

At least that’s the message from a University of Arizona law professor. Brent White’s new paper argues just this tactic, and it is hitting a nerve as the nation’s housing crisis enters its fourth year.

White is hardly first to talk about the idea of walking away from a mortgage that is bigger than the value of a home. Nonetheless, his suggestions have gone viral and are popping up online, in newspapers and on television.

It’s a move that can save some people money, but at the expense of wrecking their credit.

Read Rachel Beck’s full article “ALL BUSINESS: Help needed for underwater mortgages” in the Associated Press (December 4, 2009).

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