strategicdefault http://www.mrc.org/taxonomy/term/15625/all en CBS Says Not Paying Your Underwater Mortgage 'Best Hope for Some to Stay Afloat' http://www.mrc.org/articles/cbs-says-not-paying-your-underwater-mortgage-best-hope-some-stay-afloat <div class="field field-type-nodereference field-field-source"> <div class="field-items"> <div class="field-item odd"> <div class="field-label-inline-first"> By</div> <a href="/author/paul-wilson-joe-and-betty-anderlik-fellow-culture-and-media">Paul Wilson</a> </div> </div> </div> <p>Once again, a national news outlet has sided with borrowers against lenders. This time it was CBS "Evening News" which interviewed families going into "strategic default" <a href="http://www.cbsnews.com/stories/2011/06/16/eveningnews/main20071752.shtml?tag=cbsnewsTwoColUpperPromoArea">on June 16</a>.<br /><br />CBS defined those terms as a practice in which "people with no hope of ever even breaking even on their homes no longer even try." In other words, they stop paying the bills they agreed to and continue to live in their mortgages house until the bank forecloses on them.</p><p><a href="http://www.mrc.org/articles/cbs-says-not-paying-your-underwater-mortgage-best-hope-some-stay-afloat" target="_blank">read more</a></p> Articles MRC Business Business Economy Media axelrod bob borrowers Credit debt default Foreclosure homeowners House mortgages report sistik strategic strategicdefault underwater Sat, 18 Jun 2011 01:04:00 +0000 admin 27520 at http://www.mrc.org NBC: Screw Your Neighbors -- Walking Away from Your Mortgage is 'Ethical,' 'Good Business Decision' http://www.mrc.org/articles/nbc-screw-your-neighbors-walking-away-your-mortgage-ethical-good-business-decision <div class="field field-type-nodereference field-field-source"> <div class="field-items"> <div class="field-item odd"> <div class="field-label-inline-first"> By</div> <a href="/author/anthony-kang">Anthony Kang</a> </div> </div> </div> <p>Surprise: NBC finally found a business it likes – even a business decision it likes: companies that help homeowners who decide to walk away from their mortgages.</p><p>“New figures show foreclosures in the U.S. are up about 35-percent from a year ago,” Matt Lauer kicked off an April 20 segment of “Today” that encouraged homeowners – even those financially comfortable – to simply walk away. “And a growing reason why are people who simply choose to walk away from their mortgage even when they can afford it.”</p><p><a href="http://www.mrc.org/articles/nbc-screw-your-neighbors-walking-away-your-mortgage-ethical-good-business-decision" target="_blank">read more</a></p> Articles MRC Business Business mortgage NBC strategicdefault Tue, 20 Apr 2010 21:32:45 +0000 admin 27308 at http://www.mrc.org