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Everyone is walking away(1/8 defaults)

Started by Riversider
almost 16 years ago
Posts: 13572
Member since: Apr 2009
Discussion about
http://www.businessweek.com/news/2010-04-29/-strategic-mortgage-defaults-reach-12-of-total-update1-.html About 12 percent of all mortgage defaults in February were “strategic,” up from about 4 percent in the middle of 2007, New York-based Morgan Stanley analysts led by Vishwanath Tirupattur wrote in a report today. Borrowers are more likely to stop paying their mortgages the higher their credit scores and the larger their loans, they said.
Response by Riversider
almost 16 years ago
Posts: 13572
Member since: Apr 2009

http://www.pbs.org/newshour/bb/business/jan-june10/mortgage_04-20.html?source=patrick.net

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Response by w67thstreet
almost 16 years ago
Posts: 9003
Member since: Dec 2008

yeah, but wait till congress no longer extends unemployment bennies... 99wks and thats all folks.... 1MM folks on the streets, 1million add'l rentals/homes for sale.... making Arizona prime for a double dip and deservedly so.....

Here is my ID senor...

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Response by Riversider
almost 16 years ago
Posts: 13572
Member since: Apr 2009

The Condo owner in the pbs piece said it all. He can afford the payment, but feels the economics favors walking vs ruining his credit. He has the money.

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