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More Homeowners Intentionally Defaulting On Mortgages

Strategic Mortgage Default

First Posted: 05/11/11 05:25 PM ET Updated: 07/11/11 06:12 AM ET

AOL Real Estate:

Like so many American homeowners, he lost his job in the financial crisis and watched the value of his house plunge. Unable to modify his loan -- and unwilling to push himself into complete financial ruin to keep his condo -- he made a strategic decision to pack his bags and leave the keys for the bank.

Read the whole story: AOL Real Estate

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Filed by Harry Bradford  |