Saturday, January 30, 2010

NPR: To Stay Or Walk Away

by Bill McBride on 1/30/2010 08:53:00 AM

Here is an interesting podcast from NPR's Planet Money: To Stay Or Walk Away

NPR's Alex Blumberg and Chana Joffe-Walt interview Arizona attorney Mary Kinsley. She describes how a couple years ago homeowners would call her, in tears, trying desperately to save their homes from foreclosure.

Now homeowners call, their voices calm, and ask her the best way to strategically default - and in some cases how to get the banks to take back the houses they've been delinquent on for over a year. Pretty amazing. She thinks this is just the beginning of "walking away".

P.S. I appreciate the mention!