|
In response to
"Speculation on the Obama housing plan does two things that piss me off and one thing that damns homeowners."
by
Mop
|
The market doesn't have to catch back up for people to sell
|
The homeowner just has to reach a point where what they owe on the mortgage is less than what they can sell the home for. Sure, you might walk away with no positive equity, but if you wait for the "catch up" you'll just be paying that much more for your next place too.
The issue is being trapped and unable to downgrade your home, not selling your house for what you paid.
|