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 [...]

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