Relevant:
- Straightening Out the LA Times, Fannie, Freddie, Strategic Defaults and Deficiency Judgments
- Representatives Convey and Kaptur Call on Geithner, Fannie, FHFA to Stop Efforts to Pursue Strategic Defaulters
- fannie mae to punish strategic defaulters
- GSEs Failed to Pursue Judgments on Foreclosed Borrowers, Watchdog Says
- Freddie to Strategic Defaulters: Please Don’t Do It
2013-10-16 — latimes.com
``Fannie and Freddie can pursue judgments against borrowers who walk away from their loans even though they have the ability to make their payments. That's called a strategic default, and many borrowers are taking that step -- typically throwing in the towel because their homes are no longer worth as much as they owe.
But when their homes are sold at foreclosure and the proceeds are not enough to cover their outstanding loan balances, it creates a deficiency for which many defaulters either don't realize they are liable or don't care.''
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
