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Podcast 125: Underwater Mortgages

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Today on the Consumerism Commentary Podcast Tom Dziubek speaks with Gerri Detweiler, personal finance expert at, about her series of articles dealing with underwater mortgages. Gerri goes into detail about each of the six options including home loan refinances & modifications, doing a short sale and declaring bankruptcy.

Consumerism Commentary Podcast #125
Underwater Mortgages: S05E21 / 149


Table of contents

Consumerism Commentary Podcast[00:00] Introduction from Tom Dziubek
[00:35] Interview with Gerri Detweiler
[00:46] The criteria for someone to be considered “underwater”
[02:19] Stay and pay
[04:43] Emergency home owner loans
[05:20] Refinancing a mortgage & the HARP program
[06:52] Home loan modification & the HAMP program
[09:16] The popularity of home modifications
[11:38] Short sales
[13:59] Cancellation of debt and its affect on your income taxes
[16:21] Walking away from a mortgage
[19:59] Declaring bankruptcy
[22:37] Misconceptions about bankruptcy
[23:43] Credit rating recovery after a bankruptcy
[27:20] End

We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.

Theme music by Mindcube.

Updated October 20, 2011 and originally published September 11, 2011.

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About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

{ 2 comments… read them below or add one }

avatar 1 wylerassociate

good podcast interview especially discussing the effects of bankruptcy & the HAMP program.

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avatar 2 Anonymous

Definitely quite interesting stuff. Stay and pay is probably the best option if you aren’t planning on moving.

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