Strategic Mortgage Defaults on the Rise - FOX NewsThere is a rising trend in home owners who are doing what's called a "Strategic" Mortgage Default. This is when a home owner can afford to pay their monthly mortgage, but chooses not to because their mortgage balance exceeds their property value. They stop making payments, and after a period of time the lender foreclsoes on the property.
1-800-CashOffer CEO Jeremy Brandt discusses this trend with FOX News.
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The original story may also be seen on the FOX News web site: Rise in Strategic Mortgage Defaults