You Walk Away ~ Strategic Default ~ CBS Evening News Luxuray Home Foreclosures
Labels: CBS, Foreclosures, Strategic Defaults
posted by Thirdcloud at
11:22 PM
Sunday, January 30, 2011
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1 Comments:
The motivation for a strategic default may depend on how far a borrower is underwater. Having a mortgage that’s twice as much as the value of a home could be somewhat discouraging. The prospect of being stuck with a losing investment that may not reach a break-even point for 10 years or more may be enough motivation to take a walk.
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