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Loan Modification

: The Truth About Mortgage.com

More Than a Quarter of Mortgage Defaults Strategic

By scot184

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A new survey conducted by the Kellogg School of Management in Chicago suggests that more than a quarter of mortgage defaults are strategic, especially when negative equity exceeds 15 percent. The study, ?Moral and Social Restraints to Strategic Default on Mortgages,? compares the current housing crisis to the Massachusetts housing market during the 1990-91 recession, discovering [...]

Full post as published by The Truth About Mortgage.com on June 29, 2009 (boomark / email).

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