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Loan Modification

: Loan Modification & Home Loan News

Strategic defaults on mortgages: The price we pay for the housing folly

By Moe Bedard

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The collapse of the housing market has pushed more than 11 million homeowners into the uncomfortable position of owing more to their lender than their house is worth. A third of the mortgages held in California fall into this category, according to housing market analyst CoreLogic. Many of these borrowers are voluntarily defaulting on loans [...]

Full post as published by Loan Modification & Home Loan News on June 15, 2010 (boomark / email).

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