Special Report: Strategic foreclosure- it's legal, but is it ethical?

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Special Report: Strategic foreclosure- it’s legal, but is it ethical?

Special Report: Strategic foreclosure- it’s legal, but is it ethical?

Note: This article fails to mention that FHFA is working on going after strategic defaulters so be-careful on all you hear is “legal”. Always double triple check.


NBC 11 News-

While some homeowners struggle month after month to make their mortgage payments to avoid facing foreclosure, others are intentionally walking away from their homes. It’s called strategic foreclosure, and it’s a new trend that has hit the Grand Valley.

A strategic foreclosure involves someone who is capable of making their mortgage payment, but choose not to, usually because their home is not worth the value it used to be.

“They’re financially savvy, they understand what’s going on with the market, they understand what the financial ramifications are of a foreclosure, and they understand that the long-term benefits outweigh the short-term costs,” said Paul Clement, mortgage lender with Guild Mortgage.

[NBC 11 NEWS]

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One Response to “Special Report: Strategic foreclosure- it’s legal, but is it ethical?”

  1. JIMI says:

    its time to go and fight banksters robo-signers and banksters fraud
    and its time to stop this nonsense and leave the homeowners alone
    they need to go after the real criminals the banksters that comitt fraud and trying to steal home by fraud in our courts

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