Comments on: Rich Homeowners More Likely to Walk Away From Mortgages http://www.consumerismcommentary.com/rich-homeowners-walk-away-mortgages/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 12 Feb 2012 20:01:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Financial Samurai http://www.consumerismcommentary.com/rich-homeowners-walk-away-mortgages/comment-page-1/#comment-207660 Financial Samurai Sat, 10 Jul 2010 12:44:34 +0000 http://www.consumerismcommentary.com/?p=8889#comment-207660 Flexo, I know you aren't a homeowner, but do you know if someone can just let one property go into foreclosure by stop paying the mortgage, and be protected while still having tons of cash in the bank that could actually pay off the entire loan? I think a state such as TExas, you can foreclose and the state can't go after your assets. Donno about elsewhere. Perhaps one solution is to send your cash off shore? Flexo, I know you aren’t a homeowner, but do you know if someone can just let one property go into foreclosure by stop paying the mortgage, and be protected while still having tons of cash in the bank that could actually pay off the entire loan?

I think a state such as TExas, you can foreclose and the state can’t go after your assets. Donno about elsewhere.

Perhaps one solution is to send your cash off shore?

]]> By: Jenna http://www.consumerismcommentary.com/rich-homeowners-walk-away-mortgages/comment-page-1/#comment-207644 Jenna Fri, 09 Jul 2010 15:02:13 +0000 http://www.consumerismcommentary.com/?p=8889#comment-207644 What about buying foreclosed homes and houses in a short sale? Seems like you would be able to make a bunch of money on those homes. Plus you are still doing good to community by buying a home and making general improvements. What about buying foreclosed homes and houses in a short sale? Seems like you would be able to make a bunch of money on those homes. Plus you are still doing good to community by buying a home and making general improvements.

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