Underwater Home: What Should You Do if You Owe More on Your Home than It's Worth?

Underwater on your home? Don't know what to do? Let one of the the nation's leading experts guide you to the right decision. In Underwater Home, Professor White addresses all your concerns and helps you work through the emotions and practical realities of being underwater on your home. He explains your options and gives you the facts that will empower you to make the best decision for your family, free from guilt or fear, and with clarity, confidence, and peace of mind. Underwater Home is both an emotional and practical guide for the underwater homeowner. Professor White explains when it makes financial sense to stay in your underwater home and when it makes sense to get out. And he offers no-nonsense insight into how to negotiate with your lender. If you're underwater on your home, you can't afford not to read this book. "In a tone that is both conversational and precise, â??Underwater Home: What Should You Do if You Owe More on Your Home than Itâ??s Worth?â? lays out the case for and against walking away from an upside-down mortgage where the home is worth less than the mortgage balance. As is his habit, Mr. White strips away many of the emotional reasons that are often touted to deter walkaways. Mr. White, who specializes in behavioral economics and the law, touched a nerve with a paper last year that was one of the first to seriously challenge the long-held view that borrowers have a moral obligation to continue making their mortgage payments" - Wall Street Journal, Decemeber 7, 2010. "Underwater mortgage? The book banks and Fannie hope you wonâ??t read." Reuters, December 15, 2010 "Law Profâ??s Book Helps Underwater Homeowners Decide When to Walk Away" - ABA Journal, December 8, 2010. "A how-to book on strategic mortgage default." - Orlando Sentinel, December 15, 2010 "Brent White, a University of Arizona law professor who has preached the morality double standard that homeowners face while companies default on loans without so much as a second thought, now makes his case in a book that virtually holds homeownersâ?? hand through the process. He tells them what to consider when deciding whether they should stop paying the mortgage... White even walks homeowners through the math to figure out whether theyâ??re better off staying put and or walking away. Though White strongly argues that homeowners shouldnâ??t feel any guilt or shame over the decision to stop paying the mortgage on a house that is severely underwater, he also cautions against it in certain circumstances. The book is designed to help homeowners evaluate their own situation and make a decision." - Orlando Sentinel, December 15, 2010

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