IN A DECLINING PRICE ENVIRONMENT FEW WILL HAVE THE INCENTIVE TO "SAVE THE HOUSE"...IN CHAPTER 13...
OR TO REAFFIRM THEIR PAYMENTS AFTER A CHAPTER 7 BANKRUPTCY...
MANY MAY JUST WALK AWAY...
THOSE WHO BOUGHT THE MOST EXPENSIVE HOUSE THEY COULD GET INTO...IN HOPES THAT HOUSE PRICES WOULD CONTINUE GOING UP 20% PER YEAR...ARE NOW IN DIFFICULT CONDITIONS...
IF THEIR MORTGAGE WAS AN "ARM" OR "TEASER" AND THEY WERE PLANNING A "FLIP"....THINGS ARE EVEN MORE DIRE...
