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If all the stories in recent months about walking away from your mortgage are to be believed, the practice of not paying this once-sacred obligation has become, if not quite acceptable, then at ...
Walk away from your mortgage. Another option is to simply walk away from the mortgage — a move called a “strategic default” — but, like a short sale or foreclosure, doing so can be ...
Walking away from your mortgage has become a trend as more homeowners find themselves underwater -- that is, their home is worth less than their mortgage. But as Ann Brenoff explains, at our ...
A bank walkaway is a decision by a mortgage lender (a bank) to not foreclose on a defaulted mortgage (when the borrower has ceased to make the payments), or to not complete foreclosure proceedings (to "walk away" from the mortgage).
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 ...
YouWalkAway.com, also known as You Walk Away, was a company that helped homeowners facing foreclosure through strategic default. YouWalkAway was based in San Diego , California. [ 1 ] [ 2 ] [ 3 ]
Because in some cases, it makes good business sense to walk away from a bad investment -- just like the banks do all the time. Skip to main content. 24/7 Help. For premium support please call: ...
Let's say that you owe $500,000 on the mortgage for a house that, because of the crumbling real estate market, is now worth $200,000. You can afford to make the payments -- but it feels stupid to ...