Mortgage And Real Estate News

Friday, May 20, 2016

Housing: What we now know about strategic defaults

One of the interesting things about the housing bust of several years ago — interesting in retrospect, not so fun at the time — was the many people who walked away from their homes voluntarily.

"Strategic default" was the buzzword phrase to describe owners who simply defaulted on their mortgages based on declining values rather than an inability to pay. Their actions fostered a debate that was centered as much around ethical implications as the financial causes.


Reuters: Business News

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