Friday, June 17, 2011

Discovering The Secret

CBS looks at real life families in Florida who have discovered the best financial secret not discussed by most advisors:

The second the value of your home crosses under the amount you owe in mortgage debt there is no reason to continue making payments.  You will be provided the opportunity to possibly live payment free for years.

The argument against a strategic default up until now was that it would ruin your credit. The lawyer in this clip tells CBS that it will only drop your score 150 points, and you'll be able to quickly recover.

Uh oh. 

With 23% of all mortgages now underwater, how soon before the "secret" goes mainstream?

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