Banks Must Write Down Loans to Prevent a Mass Homeowner Exodus

The word is out and the banks and servicers need to get a clue. People are walking from their underwater homes in droves. What was once taboo has become the “smart” thing to do for many Americans.

Lenders used to use foreclosure as a scare tactic. Now, it’s nothing more than a solution for people’s misery that were once strapped by the debt, ball and chain known as their home.