Strategic Defaulters: New Trend in Mortgage Defaults

More and more homeowners who can pay their loans but opt not to. They live in their home FOR FREE without paying mortgage,while they are in the process of foreclosure or short sale. We call them: strategic defaulters --they are "more than we have ever experienced before."

The foreclosure process is taking 13 to 14 months, and so there's over A YEAR of FREE RENT.

31 percent of foreclosures in March were deemed to be "strategic default"!!

我今年年初有一个short sale，于芸芸offer中好不容易拿到。 等了n久, seller从third party那里听来可以free rent, 竟然就不卖了！free 住几个月，对financial 情况不太好的short sale卖家还是很难抗拒的～所以，short sale还是能不沾就不沾吧。 变数实在太多了！