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June 03, 2010

Change! Strategic defaults up almost 50% in past year

Live for free, more bling for thee.

...31 percent of foreclosures in March were deemed to be "strategic default" by researchers at University of Chicago and Northwestern University.

That's up from 22 percent in March of 2009.

We already know that mortgage walkaways are more prevalent among borrowers whose neighbors or friends have done the same thing.

We also learn from those same researchers that the likelihood of walking away increases by 23 percent when homeowners learn that a neighbor got some principal forgiveness...

THE NEW NORMAL.
SURFS UP! CATCH THE WAVE.

posted by Purp at 12:16 AM

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We also learn from those same researchers that the likelihood of walking away increases by 23 percent when homeowners learn that a neighbor got some principal forgiveness... THE NEW NORMAL. SURFS UP! CATCH THE WAVE. posted by Purp at 12:16 AM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments Scarymary: "54 I can't keep all of those Kennedy's straight. W ..." Caroline Kennedy: " Ask not what kind of retarded scumbag Democrat p ..." 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