Are You Holding the Bag on Your Mortgage?
The U.S. housing market has yet to turn around, leaving many Americans upside down on their home loans. Prior to the economic downfall, people viewed homes as investments. After all, if you paid off your mortgage, you would have a place to stay well into retirement. When the housing bubble burst, this changed.
While approximately 25 percent of Americans have an underwater mortgage, many lenders have already written off portions of the loans. If your lender has done this, you may be holding the bag while the guilty party runs away. Check out the full article at Forbes.