When Suze Orman Told Me to Abandon My Mortgage

http://www.insidearm.com/news/00009118-when-suze-orman-told-me-to-abandon-my-mor/

Ten years ago abandoning mortgages was nearly unheard of. Not that foreclosures didn’t exist; they were just rare and spoke more to bad finances and financial planning. Today? Suze Orman thinks it might not be a crazy idea.

The difference between then (i.e., 2005ish) and now, of course, is that home ownership is not the most secure thing to do with your money. (It’s now somewhere after hiding it in your pillow and rescuing deposed Nigerian royalty.) And the morality of abandoning mortgages is not as black and white as it may have been once upon a time. If you owe more on your mortgage than your house is currently worth (I’m raising my hand, here), it might actually make business sense to walk away.

Read the full post on Forbes.com

When Suze Orman Told Me to Abandon My Mortgage

Mike Bevel

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