Saturday, February 21, 2009

Norm Miller on "rational default"...

A third of owners will walk away when the value of their homes drops 20 percent or more below what they owe, even if they can afford the payments, a situation known as “rational default,” said Norm Miller, director of real estate programs at the University of San Diego School of Business Administration.

Source: Finance & Commerce

People need to educate themselves on the process and their options. Through this knowledge they can overcome the of paralyzing fear (purposely instilled by the powers that be) of taking their future into their own hands.

FutureMillionaire: Are you a Nevada homeowner facing foreclosure?

If you are a Nevada homedebtor concerned about making your payments, interested in a short sale or considering foreclosure, start here. Others are invited as well, but this page is specifically about Nevada.

Welcome to Rational Default...

...the purpose of this blog will be to provide resources and a place for discussion for those homedebtors who are vastly underwater, facing insurmountable job losses or financial hardships, and are making the difficult, but rational, choice to default on their mortgages.