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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 ...
"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
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 ...
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: ...
Let's say that you owe $500,000 on the mortgage for a house that, because of the crumbling real estate market, is now worth $200,000. You can afford to make the payments -- but it feels stupid to ...
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