I worked in a boom-and-bust industry and when the vice president was seen entering his office with a stack of personnel folders, everyone knew something was going to hit the fan soon.

Send the judgement to a debt collector, they generally take 50%, but that is better than nothing.

. - There are other smaller markets like Dayton, Akron, and and Newark, which we are starting to see these areas boom due to huge investors and corporations like Intel choosing to set up shop in these kind of areas.Watch the video series comparing the differant cities of ohio at ohiorem.com

Smart money knows where to go when the status quo changes.The only drawback is that some day, maybe not too soon, but some day they will repeal/remove/work around Prop 13 and property taxes will boom to the detriment of all involved. 

In fact OP you may have spoken to me 3 months ago (I wouldn't remember), and I would have told you in advance about how this sort of thing can happen, so you "shop around," find someone else offering exactly what I offered, from the exact same very small pool of lenders, identical rates/fees (+/- rate movement over time), they don't include all the caveats/warnings that I did, so you think it's more reliable or whatever, fast forward 2 months, and boom here you are making this thread (incidentally, this means my "incentive" is to just drop all the warnings and caveats, and then act all surprised when exactly what happened to you happens, like I didn't know it was a possibility from the get-go). 

Turn over to a collector to recapture the money.

If you lack e courage or the capacity to purchase during a boom market.

Many primary residence borrowers have either tapped into equity during the refi boom or may not be able to refinance in the current market.

In US, it's also common in Venture Capital industry, from boom to bust cycle, now we're in bust cycle for them Lol, marked by the demise of SVB and FRC LOL

When he wrote Rich Dad, Poor Dad it was also popular at the time to denigrate traditional college because we were right in the dot com boom, where a certification to write html paid more than a college degree.