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A strategic default is the decision by a borrower to stop making payments (i.e., to default) on a debt, despite having the financial ability to make the payments.. This is particularly associated with residential and commercial mortgages, in which case it usually occurs after a substantial drop in the house's price such that the debt owed is (considerably) greater than the value of the ...
Zillow estimated that mortgage rates could reach 8.4% in the “unlikely event” of a debt default. If rates do go that high, then mortgage payments on a typical home would soar 22% by September ...
In 1994, Riddiough coined the term 'strategic default', which is used to indicate purposeful borrower default in order to extract concessions from a lender. [11] The phrase, along with the term 'trigger event,' have been commonly used in the literature and popular media since the financial crisis of 2008.
In finance, default is failure to meet the legal obligations (or conditions) of a loan, [1] for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.
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More than a third of the 1,000 respondents with fixed-rate mortgages think their payments can never change, and more than half who experienced an increase in their monthly payments were surprised ...
For example, after wealthy Brazilian driver Pedro Diniz left the Forti team for Ligier after the 1995 season, Forti withdrew from Formula One midway through 1996. [3] The competence of pay drivers varies. Three-time Formula One world champion Niki Lauda grew up in a wealthy family. Against his parents' will, he was able to borrow money against ...