I refuse to read the article to you but I’m pretty sure you just posted this out of one side of your mouth....
“Talk about “thick headed”.
Did you even read the article?
They guy CAN afford the house payments. There’s no threat of “debtor’s prison” and there is somewhere for this guy to go - to his home HE purchased.
Are that clueless?
The contract he signed does not say “or return the house”...
The house is collateral if he fails to live up to his obligations as in BREACH OF CONTRACT along with other legal remedies.”
This is the article:
http://www.fresnobee.com/2010/05/27/1948302/more-california-homeowners-walk.html
You know, the title of the thread thingy...
Not what you posted.