Reply #2: I don't get this concept... [View All]

[Citizen Number 9]

I was surprised when I heard people were doing this, but I don't understand it at all.

So you find yourself "upside-down" with your mortgage and all of a sudden;

You don't find the location you live in convenient anymore?

You don't like the house that once was suited to you?

You want to take a credit hit by defaulting?

You want to go put up with a landlord again?



Assuming you can still swing the payments, why not just wait until housing values come back?