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Loan Modification

: Mortgage Lender Implode-o-Meter

Freddie to Strategic Defaulters: Please Don?t Do It

By Implode-Explode Heavy Industries

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Freddie Mac has a message for any homeowners who are thinking about are thinking about walking away from their homes even though they can afford to pay the mortgage: Please don?t do it.

The problem for mortgage investors like Freddie Mac is that most mortgages in the country are non-recourse loans. Borrowers can?t be held liable for the debt if they default.

Full post as published by Mortgage Lender Implode-o-Meter on May 07, 2010 (boomark / email).

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