I represent the 12 million households crippled by unknowingly electing to purchase a home during the housing boom. Did I strategically walk away from my home saddled with an excess of $100K in negative equity – you bet! Do I make more than enough to continue throwing good money at a bad investment – you bet! Will I do so – not on your life! So, here’s a little reality for you. My husband and I have a combined gross annual salary of $275K. We had combined negative equity in our previous homes in the amount of $200K, for which we made a decision to do what we believe to be the most rationale alternative. In lieu of waiting for some perceived upside over a 10-20-year cycle, we simply walked away…….and it felt damn good!
So, assuming there is in fact a housing recovery underway, guess what, I am your ideal buyer – big pockets waiting for the first intelligent lending institution who realizes that a rather large segment of the market not presently contributing to the continued success of the housing market is only limited by some perceived “deadbeat” mentality on behalf of lenders. I would argue that in my lifetime, I have never missed one single payment on any loan or for that matter even a utility bill, and of perhaps even more credence have an 850 credit score. Literally, the only “black mark” was caused by a strategic decision to walk away from an investment that frankly any company who held a similar bad asset on their books would reach the same decision.
Let’s get smart and get down to business. You want higher market cap? Guess what – I am just the candidate to make that happen for you……..until then, I will be blissfully enjoying my debt-free burden in my awesome rental home!
Signed, Someone Had to Tell the Truth!