[quote=flu]BG, I don’t get it. If you think taking a $250k heloc out of your home and then strategically defaulting will move you further ahead, then what’s to stop you right now from doing it?
Seems to me, that the only difference between you and your said neighbors/acquaintances that you seem to envy for doing so, is that they did it in 2007. You can do it in 2012.. What’s the difference if you think it works out better this way?[/quote]
flu, you must be aware that a current appraisal will not support taking $250K out of my home, even if I COULD qualify for it. I may not be able to qualify for a refi, let alone any “cash-out” at all!
