Strategic Default by Homeowners

Everyday I meet with homeowners that are underwater on their mortgages. When speaking with them I discuss strategic default as a strategy for dealing with their money problems. As I explain it is an economic decision not a morale decision. It turns out the Mortgage Bankers Association recently decided to walk away from the mortgage on their headquarters building.  Hello pot meet kettle!

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
Mortgage Bankers Association Strategic Default
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