The Pay or Go Calculator – to Default or Not to Default
Here is another sign of the times with regards to the concept of the “Strategic Default”. If you are underwater on your mortgage it would appear the lawyers are lining up to “help”.
I just ran into this website with it’s “Pay or Go” calculator. http://payorgo.com/
You plug in your numbers on what you owe and what you pay and it will tell you whether you should keep Paying or Go … walk away and trigger your “Strategic Default”
Is this the 2009 property specific version of “ambulance chasing”? I am certain this law firm could help you if you decide to “go” rather than keep paying. And this all begs the question is walking on your mortgage now socially acceptable. You be the judge and as one reader emailed me … “whether it is socially acceptable or not, the question of whether it is ethical remains.”
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