Strategic Default May Cost Eight Years
June 7, 2010 by Jon Tipton · 1 Comment
Since median home values have dropped by 10% from April 2009 to April 2010, this has many considering a “strategic default” on their mortgage. A strategic default is when homeowners who are upside down on their mortgage purposely stop paying without any legitimate hardship i.e. divorce, job loss, etc. Some “strategic defaulters” have run up [...]
