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Home › Forums › Housing › Increasing numbers of Americans are simply walking away from their houses

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  • April 20, 2008 at 4:10 AM #190778
    mmbuyer
    Participant

    I have no problem with watupp walking away. But change the laws to make home loans recourse loans for anyone who walks away once. Increase the time it stays on your credit record from 7 to 10 years. Prevent Fannie Mae from buying loans from people who defaulted.

    I think it should serve as a deterrent against defaults and irresponsible borrowing.

    April 20, 2008 at 4:10 AM #190825
    mmbuyer
    Participant

    I have no problem with watupp walking away. But change the laws to make home loans recourse loans for anyone who walks away once. Increase the time it stays on your credit record from 7 to 10 years. Prevent Fannie Mae from buying loans from people who defaulted.

    I think it should serve as a deterrent against defaults and irresponsible borrowing.

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