Some Homeowners Choose to Default on Mortgage

With the economic meltdown in high gear for a few years and foreclosures of homes continuing to hit the airwaves, a phenomenon called strategic default has become prominent among homeowners.
Some Homeowners Choose to Default on Mortgage
A house under foreclosure that is now bank owned in the Spring Valley area in Las Vegas on October 15, 2010. With the economic meltdown in high gear for a few years and foreclosures of homes continuing to hit the airwaves, a new phenomenon however, called strategic default has become prominent among homeowners.Mark Ralston/Getty Images
|Updated:

<a><img src="https://www.theepochtimes.com/assets/uploads/2015/09/105488519.jpg" alt="A house under foreclosure that is now bank owned in the Spring Valley area in Las Vegas on October 15, 2010. With the economic meltdown in high gear for a few years and foreclosures of homes continuing to hit the airwaves, a new phenomenon however, called strategic default has become prominent among homeowners.(Mark Ralston/Getty Images)" title="A house under foreclosure that is now bank owned in the Spring Valley area in Las Vegas on October 15, 2010. With the economic meltdown in high gear for a few years and foreclosures of homes continuing to hit the airwaves, a new phenomenon however, called strategic default has become prominent among homeowners.(Mark Ralston/Getty Images)" width="320" class="size-medium wp-image-1809247"/></a>
A house under foreclosure that is now bank owned in the Spring Valley area in Las Vegas on October 15, 2010. With the economic meltdown in high gear for a few years and foreclosures of homes continuing to hit the airwaves, a new phenomenon however, called strategic default has become prominent among homeowners.(Mark Ralston/Getty Images)
Heide B. Malhotra
Heide B. Malhotra
Author
Related Topics