Abandoning Your Mortgage—What Happens
It was just last summer that Charlotte Perkins complete the hardest decision of her life as she plus her husband Jim were wedged in the vise of the housing bust.
Wanting to downsize their life as they headed toward retirement, they bought a new house in Mesa, Arizona; previous to they sold the old one, also in Mesa. Their preceding home had been appraised at almost $400,000 at the height of the market, but as the housing disaster ravaged Arizona, they were told they had be lucky to get $200,000 for it.
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