Nearly 30% of Virginia mortgage holders are at or near negative equity. This means they can't refi, would have to sell for less than what they paid, or try to arrange a short sale. Or they have to suck it up and keep paying for an "asset" that will never recover its value. Is it any wonder foreclosures are up 25% this year over last year?
CNN says, "Walk Away From Your Mortgage? It's Time to Get Ruthless"
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