Pocketmint

small change toward a rich life

Tag: mortgage default

  1. Reader case study: short sales and debt

    9 April 2012

    After I posted What to do — and not do — with your former mortgage dollars, I received a request for advice on a strategic default from a woman I’ll call Tricia. I agreed to give her some (friendly, I-am-not-a-lawyer) suggestions based on my own research, and she gave me permission to share our exchange […]

  2. What to do — and not do — with your former mortgage dollars

    21 March 2012

    With the decision to stop paying our mortgage, our immediate expenses dropped by nearly $3000 per month. That saved us over $32k in 2011 alone. So what did we do with all that ‘extra’ money? Well, first of all, about $6000 went to pay additional income tax, now that we no longer qualified for the […]

  3. Mortgages: knowing when to walk away

    12 March 2012

    In January 2011 Jak and I made a bold and controversial financial decision that would send our lives down a sharply different path. We decided to default on our mortgages. For background, you should read my earlier post about buying our current house in 2006, around a year before the Seattle housing market peaked and […]

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