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"More banks walking away from homes, adding to housing crisis". The Chicago Tribune . Mortgage Foreclosures: Additional Mortgage Servicer Actions Could Help Reduce the Frequency and Impact of Abandoned Foreclosures , vol. GAO-11-93, Washington, D.C.: United States Government Accountability Office, November 15, 2010
If all the stories in recent months about walking away from your mortgage are to be believed, the practice of not paying this once-sacred obligation has become, if not quite acceptable, then at ...
Walking away from your mortgage has become a trend as more homeowners find themselves underwater -- that is, their home is worth less than their mortgage. But as Ann Brenoff explains, at our ...
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The house serves as collateral guaranteeing the loan, but you don't just get to walk away from your contractual obligations if something happens to the collateral. After all, you still borrowed ...
An estimated 8.8 million homeowners (nearly 10.8% of the total) have zero or negative equity as of March 2008, meaning their homes are worth less than their mortgage. This provides an incentive to "walk away" from the home, despite the credit rating impact. [35]
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