In these difficult times, I'm being asked by home owners, " What should we do?" Does it make sense to go into foreclosure, or maybe a short sale? Should I intentionally not pay my mortgage (known as a strategic default) to get the attention of my bank who is slow to respond to my application to modify my mortgage? My response is always that I'm not an attorney or tax advisor and I'll be happy to refer them to professionals who really know what they're talking about. A good Realtor should never advise clients on these matters. Don't play Monopoly with your home.Friday, July 30, 2010
DON'T PLAY MONOPOLY WITH YOUR HOME
In these difficult times, I'm being asked by home owners, " What should we do?" Does it make sense to go into foreclosure, or maybe a short sale? Should I intentionally not pay my mortgage (known as a strategic default) to get the attention of my bank who is slow to respond to my application to modify my mortgage? My response is always that I'm not an attorney or tax advisor and I'll be happy to refer them to professionals who really know what they're talking about. A good Realtor should never advise clients on these matters. Don't play Monopoly with your home.
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