Talk about a lack of morals...

[Headbanger]

Roids are bad children, stay far, far away.

 

[cvm4]

LOL, did you even read the article Steve?

 

[arlinliss]

Also another possible reason why someone in CALIFORNIA can 'walk away' is that there is no personal liability on a 1st mortgage.... NO BOND

Where I've live/lived [east coast] when you take out a mortgage you also have to 'personally guaranty' the loan with a 'BOND' . The mortage is secured by the real eastate, but the bond makes the loan a personal obligation.

So if you don't like being 'upside down' you can merely throw the keys bank to the lender and walk away with impunity! May give you a 'blemish' on your credit report but thats less costly than paying real cash!

 

[Jwrussell]

Hmmm...strange, I don't think that's the case down here in Florida...could be wrong, but I don't remember any "bond". IMHO, that's the way it should be though.

 

[bballbaby]

What a bone head. I'm betting (or at least really hoping) he's going to get roasted for those comments. Book sales will be down.