wouldn’t they have to hide those 100’s of thousands in cash really well if they planed on turning in the keys?
Yeah, this doesn’t pass the smell test.
Those that did cash out either moved out of state or are renting now, so they aren’t at risk of foreclosure. The most likely scenario for the other people is that they turned the equity into either more SD RE (and will watch it vanish) or bought stuff (will watch it repo’ed).
