Torie
Moderator
Atlas Legend
Posts: 46,055
Political Matrix
E: -3.48, S: -4.70
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« on: July 13, 2009, 09:55:41 PM » |
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« edited: July 13, 2009, 11:24:31 PM by Torie »
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Defaulting when you have negative equity (the amount of course is relevant, and if it is your personal residence, convenience and emotional attachment comes into play as it should) is an entirely rational financial decision, and one I would make myself under certain circumstances, and have made/advised for clients, including one with a very deep pocket, which resulted in litigation and a judicial foreclosure, but it was still the right decision because of the complexity and risk of getting a deficiency judgment in California, and for how much.
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