If you have no job, you have no income, you aren’t going to be paying house payments.....
The people with jobs making house payments obviously don’t have to move.
You don't have to have a job to make house payments. Nor do you have to haven income. Making house payments takes cash flow, not income. Cash flow can come from consuming savings, or from selling other assets.
dila813 wrote:
If you have no job, you have no income, you aren’t going to be paying house payments.....
The people with jobs making house payments obviously don’t have to move.
And it is a real problem if you get a job offer in another state, but you can't move because you can't sell your current home because you're underwater on your mortgage.
That situation hasn't happened in previous recessions.