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Loan Modification

: Loan Modification & Home Loan News

Strategic Defaults Becoming Very Popular for Underwater Homeowners

By Moe Bedard

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Decisions by U.S. homeowners to walk away from mortgages they can afford account for an increasing share of defaults, according to Morgan Stanley. About 12 percent of all mortgage defaults in February were ?strategic,? up from 4 percent in mid-2007, New York-based Morgan Stanley analysts led by Vishwanath Tirupattur wrote in a report today. Borrowers are more [...]

Full post as published by Loan Modification & Home Loan News on April 30, 2010 (boomark / email).

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