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Wednesday, February 03, 2010
Homeowners increasingly opting for strategic defaults
More and more homeowners who find themselves "under water" on their homes (owing significantly more than current value) are choosing to simply walk away from the home (and the mortgage) even when they can afford to continue to make the monthly payments. (Also sometimes referred to as "jingle mail" because the homeowners often simply mail the lender the keys to the home.) See video below:
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