It can be a difficult call.
It's estimated that more than a quarter of all homeowners with mortgages are underwater – their home is worthless than the unpaid balance of their mortgage. And about half of this unhappy group is 20 percent or more underwater.
In pre-recession times, it would have been unthinkable to stop paying your mortgage and risk losing your home. Even now, homeowners with mortgages larger than the value of their homes who can afford to continue mortgage payments should keep paying if they want to stay in their homes and hope for a housing recovery.
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Nagle Law Group, P.C.
4530 East Shea Boulevard, Suite 140
Phoenix, Arizona 85028
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