Look Who is Walking Away…

The New York Times recently published an interesting report, that states that the  wealthy are more likely than other homeowners to stop making mortgage paymets and walk away from their homes.

CoreLogic conducted the survey and found that more than one in seven homeowners with loans above a million dollars are delinquent. When you look at loans under $1 million the figures are much lower with only 1 in twelve delinquent.

The survey also states several possible ideas behind this trend. One being the very wealthy are either in denial, or they view residential real estate as just another investment. Also, the very wealth have more cash resources, so if they lose only one investment , it’s not that bad, but for a person who views their home as one of their biggest investment losing it can be tragic.

For more great reasons to buy a Hoboken home in 2010, please click on The Best Time to Buy a Home is Now!

If you have been patiently waiting to buy a Hoboken home, now is the time to do it. All of the key factors are in place to ensure that your home purchase will be a major, positive life changing event. With low mortgage rates now available, this is the opportunity you have been waiting for. Make 2010 the year you purchase your dream home. For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City. Eddie can also be reached by phone at 201-344-2886.

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