The latest act of civil disobedience surrounding the housing crisis involves a University of Arizona professor who is advising homeowners that they should walk away from their home if it’s underwater.

According to the LA Times, University of Arizona law school professor Brent T. White has published an academic paper titled, “Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis.” In it, he says people could save “…hundreds of thousands of dollars that they “have no reasonable prospect of recouping” in the years ahead. Plus the penalties are nowhere near as painful or long-lasting as they might assume.”

His theory is that people should not throw good money at bad and due to shame and embarrassment of foreclosure, their emotions control them, where in fact, it’s probably the best thing to do in the long term financially.

I meet with distraught sellers in desperate situations… every week.  While most of them are at their wits end as to how to solve their personal financial crisis… they do not want to “walk away”.

Sorry Brent, but most of the people in my community are fighters, not quitters.

If you fee like “walking away”… please call me.  602-909-2845.  24-hours a day.