[Waxy]

I'm concerned for my elderly parents. (she is 60+ and he is 70+)since the housing downturn their neighborhood has become a crack house street.they are about 140% upside down.in AZ you can typically just walk away from an upside down home (with credit score penalties) and the foreclosed property is payment on the debt.HOWEVER they refinanced about 2 years ago and took 1000 out to do home repairs and a lower interest rate.this changes the options.Under what circumstances can they do a no-recourse walk-away?If there is a post-foreclosure recourse then:1- how would it be different than a credit card company collector?2- how is the total debt usually calculated post-foreclosure?to get best answer score please give web sources.t.brown- mortgage 1100 a month. rent would be 800 month. don't you know today's housing crisis?huntsman- they got the house at a steal of a price then things crashed. they planned to stay in it forever then the neighborhood REALLY went to crap. quit being a judgmental prick.correction- they refinanced 6 years ago.money was used for roof repair.

[T.Brown]

the monthly payments should be lower than rent,and the value will grow enough to break even in a few years.