underwater http://www.mrc.org/taxonomy/term/15856/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