Was having a conversation with an attorney today and here is the problem with walking away. Whether it is legal, moral, ethical or whatever it can come back to haunt you in the future.

If you are an attorney, someone who needs a security clearance, someone who works in the financial industry, someone who will handle finances for a company, someone who holds a position of trust or many other careers a foreclosure will show up on your credit report and there are 20 year reports that can be pulled.

No matter how you view it, try explaining to the HR rep what a “stand-up” guy or gal you are when this is on your record. No matter how good you can position it, would you expect to be viewed in the same light as an equally “stand-up” guy or gal who doesnt have that mark on their credit report?

There are no guarantees and it can easily amount to career suicide. I cant imagine anyone walking away and expecting it to be a free pass forever. Sooner or later it can easily come back and bite them on the ass in a way far more damaging than being underwater.