That’s exactly what I’ve been wondering with all the talk of bailout, reset moratorium, etc…
Why continue to pay full price on something that has depreciated a whole lot.
If you carefully read your mortgage contract you have an “option” to walk and let the bank foreclose. Nothing wrong or illegal about that. Just be sure you know what you’re doing.
If you didn’t refinance your initial purchase loan (non-recourse loan), then there’s not a thing the bank can do but take your condo back.
