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A bank walkaway is a decision by a mortgage lender (a bank) to not foreclose on a defaulted mortgage (when the borrower has ceased to make the payments), or to not complete foreclosure proceedings (to "walk away" from the mortgage).
If you choose to walk away from your mortgage rather than work something out with your servicer, Fannie Mae will block you from getting another mortgage for seven years from the date of the final ...
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 ...
Because in some cases, it makes good business sense to walk away from a bad investment -- just like the banks do all the time. Skip to main content. 24/7 Help. For premium support please call: ...
A strategic default is the decision by a borrower to stop making payments (i.e., to default) on a debt, despite having the financial ability to make the payments.. This is particularly associated with residential and commercial mortgages, in which case it usually occurs after a substantial drop in the house's price such that the debt owed is (considerably) greater than the value of the ...