Wednesday, January 30, 2008

You Walk Away

This just leaves me speechless:

A couple of people have already made extensive commentary on it - so I won't add much more. One thing I think Steve Croft left out of his 60 Minutes report though was the fact that with these 100% (sometime 100% plus - which he did mention) mortgages is that the home "owner" has no equity in their property. Without that down payment - without real tangible loss, why wouldn't people just walk away?