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Loan Modification

: Loan Modification & Home Loan News

More Homeowners Choosing to Quit Paying On Their Mortgage

By Moe Bedard

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Strategic defaults are when borrowers who owe more on their homes than they’re currently worth choose to stop paying their mortgage but continue to meet other financial obligations, according to a definition by Morgan Stanley in a research report on the topic. In other words, these homeowners neglect their monthly principal and interest payments, but still [...]

Full post as published by Loan Modification & Home Loan News on May 17, 2010 (boomark / email).

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