Relevant:
- Freddie to Strategic Defaulters: Please Don’t Do It
- Strategic Default: Inconceivable Assumptions Suddenly Conceivable
- 33% of Homeowners w/Mortgages Are Underwater
- most borrowers don’t strategically default until deeply underwater
- Principle Versus Principal: The Ethical Dimension Of Underwater Mortgages
2010-10-20 — thetruthaboutmortgage.com
"Borrowers thinking about walking away from their homes voluntarily don’t necessarily give up because the mortgage balance exceeds the value of their homes, according to an Economic Letter titled “Underwater Mortgages,†from the Federal Reserve Bank of San Francisco."
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