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re: Is "walking away" from a mortgage wrong?
Posted on 10/12/12 at 11:18 am to ZereauxSum
Posted on 10/12/12 at 11:18 am to ZereauxSum
This thread happened 2 years ago and I thought it was immoral. After working in banking for a year and a half, I realize that it simply is not.
Not walking away from a 30k hole is the same as letting 30k in put options expire without exercising them.
Not walking away from a 30k hole is the same as letting 30k in put options expire without exercising them.
1
Posted on 10/12/12 at 11:52 am to TheHiddenFlask
quote:
Not walking away from a 30k hole is the same as letting 30k in put options expire without exercising them.
This is a very good point. That option is embedded in every mortgage. And it's not like exercising it is free. There is a huge cost to the borrower.
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