Implications for Strategic Defaults

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House Republicans Want Penalties for Strategic Defaulters

As tumbling property values push more and more borrowers underwater, the number that are opting to walk away from their mortgage obligation, even if they can afford the payments, is growing. This idea of strategic default has become a universal concern within the industry, and there are some lawmakers who are pushing to impose penalties on those that walk away. House Republicans have passed a provision that would make homeowners who strategically default ineligible for an FHA-insured loan in the future.

 

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