Recently published study by University of Arizona Professor Brent T. White (no relation) on reasons homeowners underwater on their equity often choose not to "walk away." One reason: concern over personal shame. Better reason: It's their home, not just an investment! And of course, most quality real estate will appreciate over time. If this is your situation, an important read. - David
Click here for abstract and to download.
Citation: White, Brent T., Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis (December 7, 2009). Arizona Legal Studies Discussion Paper No 09-35.
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