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Why more homeowners are walking away from mortgages they can afford
Wednesday, March 17, 2010
Los Angeles Times: Alana Semuels explains “strategic defaults” by homeowners who owe far more than their homes are now worth, even if they can afford the monthly payments: “Stuck with properties whose negative equity won’t recover for years, and feeling betrayed by financial institutions that bankrolled the frenzy, some homeowners are concluding it’s smarter to walk away than to stick it out.”
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Tags: Mortgage industry;
Category: In The News;