Does the mortgage debt concern you? Debts are not always bad to accumulate, especially mortgage debts.
Agreed that going is rough, and in many cases the value of property has slipped below the debt amount.
But all is not lost as yet! This is just a temporary phase.
These values will return to a level above the loan amount in most cases.
So continue paying those equated monthly installments on these debts, even though it does not seem logical at individual levels.
Demand supply situation Think about it.
The longer you pay your installments on those mortgage debts, the lesser is the possibility of it being foreclosed.
There are many out there who are selling their homes because they've lost jobs, or have found a new job that does not pay them enough or are not feeling secure about their jobs.
For them, there is no option.
They have to reduce their debts by opting for foreclosure.
If you join the list, it is your property that loses value because of demand supply situation Stock market strategies But if you are in a secure job, and this is your investment property, then walking out of debt at this point of time is simply not the logical thing to do, as you would double your losses.
Anybody who has played in stock market knows that there is excessive dip in prices in panic situations.
So by joining the bandwagon, you are only increasing your losses.
Use stock market strategies instead.
Hang on, and add another property, if you can, by taking a fresh debt.
In less than two years, losses, if at all, will vanish.
What more you would become the preferred customer for debts?