AND who told you to Strategically Default and that you MUST be 3 months late in order to apply for a modification?
THE BANKS!
Chicago Tribune-
Investigators are searching not only for lenders who have sold materially deficient loans to Fannie and Freddie, but also individuals, including those who reneged on their promises to repay their mortgages. So if you are a “strategic defaulter” who decided it was better to walk away from your obligation than to keep paying for a house that was worth substantially less than you owed, it’s time to start looking over your shoulder.
[…]
These are not just borrowers who made a personal, strategic financial decision not to pay. In some cases, they remained in their houses for months or even years, living free on the government’s dime — and yours and mine — before moving on. In other instances, they profited handsomely by renting their properties to unsuspecting tenants, collecting rent for many months but never paying lenders.
[…]
If there is any indication that you falsified information on your new loan application, the OIG is “absolutely” going to refer you for criminal prosecution, Wolfe said. “We’re not just going to demand repayment,” he said. “We’re going to lock (people) up.“