Sharon Sakson with, from left, Scout, Katie, Stella, Clarissa and Nessie. By Stephanie Armour, USA TODAY When Sharon Sakson was laid off recently from her job as a television writer and producer, she burned through her savings... [read full story]
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Great news; I believe the number of mortgage "walk aways" is "better than expected" - now how do I buy stock on deadbeats? (DBDT?) Look there was no problem buying these assets when all they did was go up; even better when one...
Sharon Sakson with, from left, Scout, Katie, Stella, Clarissa and Nessie. By Stephanie Armour, USA TODAY When Sharon Sakson was laid off recently from her job as a television writer and producer, she burned through her savings...
“I’m walking away from my house,” says Sakson, 57, who stopped making payments about six months ago on her home in Pennington, N.J. “The bank can have it.” What Sakson did is called a strategic default, or a voluntary...
Voluntary Foreclosure Will Drag on the Economy's Recovery, Economists Say About 588,000 borrowers walked away from homes last year, double the number in 2007, according to a recent study by credit-scoring firm Experian and...
NEW YORK, Nov. 3 (UPI) -- U.S. foreclosure rates are up against more than stubborn banks, as homeowners also choose to abandon their mortgages, economists said. Credit score company Experian and consultants Oliver Wyman...
Mish links to an excellent article on the subject of “strategic default” - a homeowner deliberately letting a house go in to foreclosure once significantly “underwater” on the mortgage (ie, the unpaid mortgage amount is vastly...
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