Ok let’s say person A recently bought a house that is now worth half of what they paid. For the same mortgage that they are paying now they can go out and buy a house that is twice as good as their present one. Would anyone blame person A for letting their present house go in favor of buying a better one at the same price? My only question is how does person A go about convincing the bank that they are a good risk when it might be obvious what they are planning to do and can an investor afford to take the credit hit in favor of making the “right call” of cutting losses.
