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Foreclosures

Florida has nation's highest foreclosure rate

It is a scary thing when you see that your property value is less than what you owe the bank. This fear has caused many people to default on their mortgages. Rather than focusing on property value, which will rebound given enough time, focus on having a place to live. If you like your home and can make the payments (even if they are high), you still have a place to live. If your house goes into foreclosure, you will have to live somewhere and will be paying rent (who's to say it won't be at or above what you are paying now). Plus, you will have a foreclosure blight on your record.  (Nov 13, 2012 | post #3)