Not because I’m a Colorado Springs Realtor who makes my living from the Colorado Springs Real Estate market, but for the sake of better judgment, I strongly recommend against this trend regarding those individuals who are simply defaulting on their mortgages, walking away from their properties, then planning to rent some place to live more cheaply.
During adversity, it’s vital to stand firm against the winds of change. When looking at your home from an economic perspective, this should be the last asset to walk from so easily.
Your home should be something to hold on to even if there’s some painful sacrifice about making the mortgage payments. Sure the markets have dipped and recovery requires difficult choices, but in the end, perhaps after five years or so, you’ll recoup some of your perceived equity losses.
You can’t do that with other non-discretionary expenses. For instance, our premiums for health insurance keep rising regardless of our use of the policies. In fact, our insurance premiums will easily exceed our mortgage payments in the near future. There is no lasting asset involved with expense.
Even though it might require sacrifice, think twice before walking away from your home. This Colorado Springs Realtor recommends to stand tall and to carry a big stick of integrity…
For more information about our group of Colorado Springs Realtors, please click on to www.selleygroup.com.
