http://kcmblog.com/2010/01/29/the-cost-of-walking-away/ Building a Home for Real Estate Information™ Wed, 08 Sep 2010 11:02:18 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://kcmblog.com/2010/01/29/the-cost-of-walking-away/comment-page-1/#comment-452 Betty McEnaney Sat, 30 Jan 2010 22:01:23 +0000 http://kcmblog.com/?p=2690#comment-452 Thank you! Good article. It bugged the hell out of me that the media was encouraging default. Whatever happened to honor, commitment and responsibility for ones actions? Previous generations are rolling over in their graves. Thank you! Good article. It bugged the hell out of me that the media was encouraging default. Whatever happened to honor, commitment and responsibility for ones actions? Previous generations are rolling over in their graves.

]]> http://kcmblog.com/2010/01/29/the-cost-of-walking-away/comment-page-1/#comment-449 Michael Mekler Sat, 30 Jan 2010 05:53:39 +0000 http://kcmblog.com/?p=2690#comment-449 Steve, As usual very good and thought provoking post. Just this week I talked to a California attorney about this subject and it is entirely state specific. The other major component is the type of financing that is currently in place on the property. An original purchase money mortgage is less likely to be 1099'd than a cash out refinance or a second mortgage that was taken out after the fact and within the previous 3 years. Michael Mekler Steve,
As usual very good and thought provoking post. Just this week I talked to a California attorney about this subject and it is entirely state specific. The other major component is the type of financing that is currently in place on the property. An original purchase money mortgage is less likely to be 1099′d than a cash out refinance or a second mortgage that was taken out after the fact and within the previous 3 years.
Michael Mekler

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