Stop Foreclosure or Walk? Is it that simple?
Not having to continue paying your mortgage sounds enticing! But is it? Assuming a fixed rate loan, at the rate which money is being created and the dollar is thus continually being devalued, your payment will become noticeably easier each year! The dollar has been devalued 25% over the last 8 years. Your fixed rate loan is being subsidized by the failing dollar! Bottom line: If you have a fixed rate loan do the right thing for your family, get caught up and pay it back. You have to pay rent anyway which will go up with inflation unlike your mortgage. You can stop your foreclosure sale, and you will be better off in the long run. In these uncertain times which are really just beginning, stability is everything! stop foreclosure sale