Quote:
Originally Posted by mikejet
It's a much better alternative than the hundreds of people who are simply walking away from properties.
|
And just so people know, there is no such thing as walking away. It will haunt you. The bank will take ownership and will most likely short sale it and they could come after you for the difference. Sometimes banks even sell these uncollected debt to collectors who could pester you in 5, 10, 15 yrs from now
I've listened to Dave Ramsey and this is not hearsay, they are real stories happening to people.
Buying a house is risky, it's not an investment it's a lifestyle choice. I've always gone with the idea of a house payment should not be more than 1/4 of my net take home.