October 13, 2011 (Chris Moore) An estimated 35 percent of all mortgage defaults are strategic whereby borrowers who are financially capable of making their mortgage payment choose to default. Strategic defaults account for more than $20 billion of all defaults annually and are expected to persist for the foreseeable future. […]
March 24, 2011 (Chris Moore) Last week we reported that Virginia Attorney General Kenneth Cuccinelli stated that his state was among “at least a dozen” that doesn’t back the Obama Administration’s proposed foreclosure settlement, now three more Republican Attorneys General have come forward and joined Cuccinelli expressing their displeasure with parts of the plan that [...]
March 8, 2011 (Chris Moore) They come from all walks of life. From the guy next door, to celebrities, to even large prominent companies, strategic default is a growing option for more and more borrowers to take. The exact amount of strategic foreclosures is unknown but a recent study by the Federal Reserve Board showed [...]
