He Owes More on Repairs Than He’d Net From Selling, Has Wanted to Leave for Years, and Is Weighing Whether to Stay Through the Foreclosure Process and Save $20,000 (Until Someone Pointed Out the Bankruptcy Didn’t Protect Him From a Second Hit to His Credit)
Deliberately staying in a home through the foreclosure process to accumulate savings isn’t a new idea, and people do it, but the gap between how it looks on paper and what it actually involves is wide enough that it’s worth understanding the full picture before treating it as a straightforward financial strategy. That’s the calculation…