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Mortgage Default Information: Strategic Defaults Walkaways Increase
Do Not Disregard Your Mortgage Default Notice
Many homeowners are of the opinion that if they miss a mortgage payment or two, no problem,
no big deal. Wrong! It is a problem. It's not like being late on a cellphone bill, or the electric bill.
Late mortgage payments lead to defaulted mortgages, which could eventually lead to the
homeowner losing his home. read more...
Strategic Default: Would It Work With Truck Loans?
Strategic default is a popular strategy for not paying a mortgage. Will truck loans and
automobile loans be next?

Strategic Default occurs when homeowners decide to stop making mortgage payments,
although they have the financial resources to make the payments. In some circles these
borrowers are called "walk-aways". They walk away from the house and the obligation. But
recently many homeowners choose to stay in their houses. In some neighborhoods, it takes
the bank more than a year to get possession of the house and to evict the homeowner. read
more...
Strategic Default Will Continue To Kill Housing
Recovery
There is a fundamental difference between regular default and strategic default. Regular
default is what we are accustomed to. We can't afford to keep the house. The mortgage
payments, the upkeep, the property taxes, the insurance; the whole mountain of debt
becomes unmanageable. So we default on the loan. Zillow estimated that 1 in 5 houses with
a mortgage has negative equity. read more...
Strategic Default Leaves Consumers With Millions Of
Dollars To Spend
Imagine not paying your mortgage for 18 months, but you are still living in the house. On a
$3,000 a month mortgage that is $54,000. Where does all that money go?

Strategic defaults have provided free housing for millions of homeowners and at the same
time, an economic stimulus to the American economy. read more...
Why Do Borrowers Default On Their Home Loans?
When we talk about defaulted mortgages, we silently think to ourselves, "should I default on
my mortgage? I can sure use the monthly mortgage payments to pay some medical bills, do
some home repairs and put some money away for college tuition".

Many experts will argue that homeowners default on mortgages because the mortgage
payments are too high. This could be case when an adjustable rate mortgage resets the
rate. read more...