Tuesday, July 31, 2007

Walk Away From Your House!

Jim Cramer is telling folks to default on their mortgage and go rent.

"Well you just default on the mortgage. It makes huge economic sense. You go rent. Uh, you don’t want to lose your job, so you keep your car. Uh, you keep your credit cards so you can buy, and all that really happens is is that you made a bet and you lost, so don’t compound it by continuing to pay."

You know, it sounds silly. But that's exactly what a neighbor did.  Reminds me of the mid-90's here in Sacramento.

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