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Video: What’s Your Take On Short Sales & Foreclosure?

by Charlie Allred

Walk away or stick it out? Watch as the home owners below explain their thought process behind staying the course on their nearly 200k negative equity mortgage! Vegas has been hit much like Arizona. And these home owners “put their savings into real estate” and are now emotionally attached to their situation. The question I would ask is what is the best thing to do to create a better future?

I grew up in a conservative household… being responsible was expected. And certainly, we are all responsible for our actions be they financial or not. The question I now have in regard to the people in the video is “Who are you responsible to?”… Really… Should your allegiance be given to a banking institution in order to avoid an Arizona short sale or Arizona foreclosure? Or should you be responsible to your family and its future generations?

If you look at what the banks have done… They have not been responsible at all. They have been bailed out by the Federal Reserve Bank. Then they take the money that should be lended to bolster the economy and they loan it back to the governement and earn interest on money they never made! Now they are posting profits for their shareholders and the fat cats all rejoice.

I don’t know about you, but that is not responsibility.

For me, my responsibility lies with my family and what is best for them going forward. And, with home prices STILL going backward, if it made sense for me to look at a short sale in Arizona I would. Again, based purely on the business of the situation. Would that require me to break my word on an upside down mortgage? Yes… And, I am OK with that knowing that the government is looking out for the banks.

I understand that 2 wrongs don’t make a right… And, I am sure you do too. But, don’t you owe it to your family to do what is best for them? I think so.

How about you? What is your opinion?

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