losing your home: A difficult decision - lose it all or relinquish to a "strategic default" - many more situations than those already covered!
- 05/10/10 10:32 AM
The headlines in the papers and now on "60 Minutes" reflect the growing number of people who are walking away from their homes and mortgages under the "strategic default" scenario. In today's difficult market, many of these homeowner's have made the decision to default on their mortgages....either because they owe much more than the home would sell for in this market, they have lost their jobs or for numerous other life changing reasons. I have seen personally, where a young man is relocated due to work, has put his home on the market and after 3-4 months hasn't had a showing. … (0 comments)
The headlines in the papers and now on "60 Minutes" reflect the growing number of people who are walking away from their homes and mortgages under the "strategic default" scenario. In today's difficult market, many of these homeowner's have made the decision to default on their mortgages....either because they owe much more than the home would sell for in this market, they have lost their jobs or for numerous other life changing reasons.
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