tag:blogger.com,1999:blog-5465015914589377788.post5549407977498639049..comments2024-03-20T09:32:16.592-04:00Comments on Michael James on Money: Short Takes: US Mortgage Solution, Walk-In Clinics, and MoreMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5465015914589377788.post-47416561804266032002010-01-16T01:32:58.252-05:002010-01-16T01:32:58.252-05:00Gene: I think you're right that some people a...Gene: I think you're right that some people are likely to stay in a home with and under water mortgage for various emotional reasons. I'm quite attached to my home.<br /><br />I don't know enough about the law to say very much about the differences between Canada and the US on mortgages. I'm told that Canadians remain responsible for their mortgage debts even if they'd like to walk away from their homes, but that (in parts of the US), Americans aren't responsible for the mortgage beyond giving up their homes.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-90457056178793586112010-01-16T01:22:35.287-05:002010-01-16T01:22:35.287-05:00I found the Lowenstein article interesting.
One t...I found the Lowenstein article interesting.<br /><br />One thing he could have included is that people feel a psychological attachment to their home more than they would some other asset. Losing a home would feel like defeat. There's just so much emotion involved in the place your family lives.<br /><br />Still, if I owed $400k on a $300k house, I would be extremely tempted to walk away. Maybe, in a future post, you could address how things are different from this situation in Canada?genehttps://www.blogger.com/profile/05608927986297939720noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-21661886015155945312010-01-15T07:34:00.924-05:002010-01-15T07:34:00.924-05:00Thanks for the mention, have a great weekend and t...Thanks for the mention, have a great weekend and the score for this is Zero..<br /><br />C8jBig Counting Manhttp://www.canajunfinances.comnoreply@blogger.com