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Loan Modification

: Loan Modification & Home Loan News

Strategic defaults now the norm for many homeowners

By Moe Bedard

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The number of so called “strategic defaults” more than doubled, to 588,000, from 2007 to 2008, according to a study by Experian and Oliver Wyman. A separate 2009 survey found that more than a quarter of all existing defaults were strategic. Meanwhile, a growing number of academics are touting the financial benefits of walking away. [...]

Full post as published by Loan Modification & Home Loan News on January 20, 2010 (boomark / email).

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