Wednesday, June 11, 2008

The Walking Away Trade

Some Buy a New Home to Bail on the Old
Wall Street Journal, June 11, 2008; Page A3

Meanwhile, Mr. Hawks, the Las Vegas broker, says he receives one to two dozen inquiries every week from individuals inquiring about a buy-and-bail. "People are starting to ask how much their good credit is worth," particularly when their home is underwater by hundreds of thousands of dollars.

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