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To: george76

He has plenty of ca$h..however, California is one of a handful of states ( I believe it’s 9) that doesn’t allow lenders to seek recourse against other assets after a foreclosure, if there is still a deficiency. I figure that he bought at the top of the market..probably put nothing down...because he got the loan based upon his expected NFL signing bonus..now it’s 30-40% underwater (around a million $$)..so he’s doing the smart thing in walking away..


9 posted on 03/04/2011 7:37:28 AM PST by ken5050 (Admin Moderators rule!!!!)
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To: ken5050
..so he’s doing the smart thing in walking away..

Too bad he wasn't really smart and paid cash for a not-so-lavish house,
and then have a place to live forever.

What DID he do with that college education, anyway?
/sarc

28 posted on 03/04/2011 7:49:48 AM PST by RightField (one of the obstreperous citizens insisting on incorrect thinking - C. Krauthamer)
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