| Re: Arizona - Walk Away
I'm glad I can provide a supportive role in your journey. So many things we do in life, if we can phrase them in terms of the learning opportunities they provide, have a positive impact. I'm more than confident that seven (7) years from now as that reported foreclosure rolls off your credit report, you will treasure this decision as one that you are thankful you made.
Given it is my absolute belief that there will be no investment benefit in owning residential real property over the next seven years given an anticipated flat market and lack of appreciation, what will you have lost other than the opportunity to hope that your home might reach a value equal to what is owed, is the addition of having made monthly mortgage payments that exceed the fair rental value of the home during this time period. Those of course are not benefits, but excessive burdens.
Take care,
Daniel |