Home financing can be a critical part of any real estate transaction. Below you will find some outstanding mortgage information that may be able to help you with the purchase of your next home.
Hot Topic - What You Should Know About Strategic Default
Who would risk the negative impact of defaulting on a mortgage if they didn't really have to? About 17 percent of Americans who defaulted on their mortgages in the second quarter of 2013 did exactly that, according to a study by Experian, the leading global information services company.
"Strategic default" - choosing to stop paying on your mortgage even if you can afford the monthly payments - peaked at the end of 2008 during the height of the Great Recession. At that time, strategic defaults accounted for 20 percent of all mortgage defaults 60 or more days overdue, according to Experian.