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April 07, 2010


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Hello, I'm not sure you will see this comment or not, but I hope you do. My husband and I have decided to strategically default on our home which is now valued at 50% of the amount we owe. We have looked at all the pros and cons of staying, and of a strategic default, and defaulting is the most logical and beneficial way to go. (Despite what many out there would say...) I was wondering though - as far as the legal process goes - should we notify the holder of our mortgage of our intent? Or do we just stop paying and let the notices come? We are hoping at some point to offer the lender to do a deed in lieu of foreclosure, but is that something we say now, or once we receive the foreclosure notice? Thanks for the article and for your advice!

Mortgage Rates

The motivation for a strategic default may depend on how far a borrower is underwater.
Having a mortgage that’s twice as much as the value of a home could be somewhat discouraging.
The prospect of being stuck with a losing investment that may not reach a break-even point for 10 years or more may be enough motivation to take a walk.

church bonds

I think anyone considering a strategic default had better plan on being a renter for a long time.

Reverse Mortgage

Not really strategic, more of a must.

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