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” Go ahead. Break the chains. Stop paying on your mortgage if you owe more than the house is worth. And most important: Don’t feel guilty about it. Don’t think you’re doing something morally wrong.” –message of a new academic paper by Brent T. White.

Don’t just walk away too quick. Many (banks, mortgage companies) aren’t [...]

Federal Reserve and Treasury officials were scrambling to prevent the commercial real estate to deliver a roundhouse punch to the U.S. economy as it struggles to recover from the carpet.
Gerald Celente, a famed economic forecaster, warned us that their efforts could be undermined by a sharp increase in seizures of commercial properties carrying mortgages that [...]

Story Contributed by KPHO Reporter Cara Liu
Excerpt

PHOENIX (CBS/KPHO) So many these days can relate to the distress of losing a home, but neighbors in one north Phoenix neighborhood are struggling to understand why one man’s struggle had to end the way it did.
“He obviously became upset, made some comments, and went inside and came back [...]

Anthony Reinhart
The aging members of the Glen Echo Family Nudist Park might prefer the al fresco life, but they’re glad the emperor – or in this case, Ontario’s Landlord and Tenant Board – has clothes.
A board adjudicator, after all, ruled in the nudists’ favour on Monday, after they argued that a sudden eviction from their [...]

Announcements continue to roll in from retailers that have decided to close stores, slow expansion plans or cease operations altogether.
From Blockbuster to Payless, we update our 2009 roundup with the latest news from the third quarter. See which retailers are closing (at least some) of their doors. Are any of them your favorites?
Blockbuster Video
Smith & [...]