Strategic Foreclosure: Why People Are Ditching Their Mortgages By Douglas French, Christian Science Monitor, Jan 17, 2012 More and more underwater borrowers are deciding it’s time to walk from their mortgage. “Guilt and morality are one side, and objective financial analysis are on the other...
Foreclosed Homes Wait In 'Shadows' To Go On Sale June 24, 2011, NPR The housing market is still languishing this summer, leading some economists to believe prices won't begin to recover until 2014. Even Federal Reserve Chairman Ben Bernake says the market may be worse than most people thought...
Bomb Suspect Faced Foreclosure May 4, 2010, Wall Street Journal Faisal Shahzad was losing his Connecticut home to foreclosure, disliked President George W. Bush, and was an almost invisible presence at the American university where he earned two degrees. Those are some of the details in the still-emerging...
Foreclosures Hit Rich and Famous April 9, 2010, Wall Street Journal The rich and famous now have something in common with hundreds of thousands of middle and lower-class Americans: The bank is about to take their homes. Houses with loans of $5 million or more will likely see a sharp rise in foreclosures...
More Homeowners are Opting for 'Strategic Defaults' March 17, 2010, Los Angeles Times Nearly one-quarter of U.S. mortgages, or about 11 million loans, are "underwater," i.e. the houses are worth less than the balance of their loans. While home values are regaining ground — median...