Define “walking away.” Not paying? Short sale? Foreclosure?
I personally know 2 people that stopped paying. One did a short sale after not paying for 10 months. Never received a NOD. That was in 92111. Had money to pay mortgage. Value depreciated by 40%.
I know a realtor that has not paid in many months. He is in limbo. Still living in the house. Not listed for sale. No NOD. That’s in 92109. House is worth easily 30% less.
