foreclosure

Some Buy a New Home to Bail on the Old

Thursday, June 12th, 2008 | Money, Real Estate, The Economy | No Comments

Phil send me this aarticle with the note that this has got to stop and I agree whole heartedly. The price of homes changes with the market. This is very short sighted!

Fannie Plans Rules To Avoid Practice Described as Fraud
By NICK TIMIRAOS
June 11, 2008; Page A3

Next month, Michelle Augustine plans to walk away from her four-bedroom house in a Sacramento, Calif., subdivision and let the property fall into foreclosure. But before doing so, she hopes to lock in the purchase of another home nearby.


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