The phenomenon of strategic default has become a growing concern for the industry, but a new “Market Insight Snapshot” released by Experian Thursday suggests the percentage of mortgage defaults involving borrowers who decided to simply throw in the towel is trending down. Strategic defaults in the U.S. peaked during the fourth quarter of 2008, accounting …
Despite being able to afford their monthly mortgage payments, some borrowers are walking away from their homes based on the sheer fact that the property is currently worth less than what is owed. This phenomenon, dubbed “strategic default,” isn’t looked upon kindly, as it unnecessarily adds to the growing number of foreclosures across the nation. …
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