An executive whose previous firm advised homeowners looking to walk away from their mortgages says credit unions and other financial institutions should consider many of those same homeowners as potential new mortgage borrowers.
Jon Maddux is founder and former CEO of YouWalkAway.com, a website that provided advice and counsel to homeowners who were seeking to abandon mortgages that had come to cost far more than their underlying real estate was worth.
Maddux has left daily operation of YouWalkAway.com but has started a similar site, AfterForeclosure.com, which advises consumers who lost homes to foreclosures and short sales to get back into the housing market.
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