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I came across this very interesting article a few weeks ago: How to Strategically Default On Your Home . Basically, the article argues that banks and mortgage companies have a double standard that obligates homeowners to pay their mortgages, even when...
Started by Agent Foxtrot on
, 6 posts
by 6 people.
Answer Snippets (Read the full thread at straightdope):
Either party should be able to take advantage of a strategic default within the terms.
You have a contractual obligation to suffer.
No moral obligation not to strategically default.
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I've seen a lot of people here feel they could not strategically default on a mortgage for ethical reasons. My question for you is, would you want to own stock in a company with leadership who felt the same way?
I would also not feel right about a strategic...
Started by paddyshack on
, 31 posts
by 23 people.
Answer Snippets (Read the full thread at bogleheads):
My question for you is, would you want to own of people here feel... .
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What is a strategic default?
Started by Rubim on
, 4 posts
by 4 people.
Answer Snippets (Read the full thread at trulia):
None of the professionals can tell a borrower to stop payingBEST ANSWER Strategic default occurs when one walks away from a mortgage they can afford because at Remax Preferred, we require....
And strategically design a default.
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Is it socially acceptable to walk away even though you can afford the payments or is this frowned upon?
I have been looking lately on what I owe on my townhome and what I could probably sell it for and it isn't pretty. Renting it looks like a negative...
Started by BABiscuit on
, 19 posts
by 12 people.
Answer Snippets (Read the full thread at rivals):
strategically-default, the less likely the banks are to make stupid mortgagee decisions in the future - the more people strategically-default, the less likely the banks are to make stupid mortgagee, but that's not the question....
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Hello. I am planning on strategically defaulting on my townhouse starting next month. What I am curious about and can't seem to find a good answer on is how this will effect my outstanding credit card balances. I have no intention of using them anymore...
Started by WalnutCreek Homeowner on
, 4 posts
by 4 people.
Answer Snippets (Read the full thread at loansafe):
default experience:
-no increase in interest rate charge provided my pymts are on-time (auto-debit.
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On Fri, 11 Sep 2009 12:57:35 -0700 (PDT), Youwang Wang <kinkysr@yahoo.com
GOONS and THUGS prepare for a "time of meanness."
------------
"Slashing Tires"
"Why President Obama should tread lightly on Chinese imports"
Editorial
Friday, September...
Started by Youwang Wang on
, 7 posts
by 5 people.
Answer Snippets (Read the full thread at omgili):
Manufacturers, they say, have
strategically moved into pricier, more profitable.
In Chinese imports.
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I've been reading this forum for a few weeks now and it seems like it makes sense for me to walk. Here's the deets:
Purchased condo in 2007 for $155,000. 30y fixed at 6.875% with $0 down (Bank of America).
Balance owed today is $147,000 and my payment...
Started by elcaminos on
, 21 posts
by 7 people.
Answer Snippets (Read the full thread at loansafe):
I have an appt with an real estate attorney who has experience with strategic default on Thursday.
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Tags : None
Started by OH John on
, 11 posts
by 5 people.
Answer Snippets (Read the full thread at yuku):
Traders said Greece has by a small strategically placed group within the government may well reoccur before we are prepared.
Refuse to provide financing for fear that Athens will default on its debt.
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I am in a similar situation to the loud mouth in the pedicure post. DH bought our house before we were married. He was 20, thought he was making an investment. What we have is a ARM. That no one will refinance. We are not elligible for any help with it...
Started by sierramcole on
, 28 posts
by 17 people.
Answer Snippets (Read the full thread at thenest):
You will ....
A lawyer could assist if you live in a recourse state and if you have other assets the back could come after if you default that you have a co-signer.
Also, whether both of you have names on the mortgage .
After if you default.
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I see my original post got a little sidetracked, but I understand the need for everyone to ask questions.
Quick update: LTD has already offered to settle for 50% after only two month and me ignoring them. Of course, I don't have $60K lying around, but...
Started by TomEason on
, 19 posts
by 9 people.
Answer Snippets (Read the full thread at loansafe):
I have.
I have been in default with the second and I am not making payments on the second .
$210,000 on it.
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