Others view their upside-down mortgage
as a bad investment, and although they may have financial capacity, their willingness to resolve their issues is low so they opt to sit at home rent-free until they are forced to leave.
Such lenders' rights provide discipline to our housing market--Canadian borrowers think twice about buying more house than they need knowing their future earnings could be clawed back if they wash their hands of an upside-down mortgage
The program would pay a civilian or a Soldier the difference between his home's selling price and 95 percent of its value on the BRAC announcement date, or pay off an upside-down mortgage
, whichever was higher, and also pay the closing costs.
The nation's housing market is slowly improving, but many Americans continue to struggle with upside-down mortgages
-- owing more on their homes than they are worth.
Cash-strapped homeowners are staying put in their homes or taking a loss on their upside-down mortgages
and moving back in with their parents to raise their families.
, home depreciation values and looming foreclosure is the stuff of "HGTV's $250,000 Challenge.
Additionally, it is believed that to the extent that this stimulates investments in home improvements, it will enhance home values and help close the gap on upside-down mortgages
and shrinking home values that are a major cause of our current economic problems.