All Posts Tagged With: "walk-away"
Can We Predict Mortgage Loan Walk-Aways?
It’s generally estimated that about a third of all mortgage foreclosures are simply voluntary, people who can afford their monthly payments but throw in the financial towel and make a strategic decision to walk away from their homes and loans. Now a new system says it can predict who will walk and who will stay. [...]
25Apr2011 | Peter G. Miller | 0 comments | Continued
Fannie Mae Gets Tough With Mortgage Loan Walk-Aways
In a new get-tough mode, Fannie Mae says it will cut off mortgage financing for as long as seven years in cases where borrowers walk away from mortgage loans. In addition, Fannie Mae says it will seek deficiency judgments when possible. Borrowers don’t have to walk away, says the company. “Troubled borrowers who work with [...]
24Jun2010 | Peter G. Miller | 0 comments | Continued
Is Walking Away Right With A Commercial Mortgage?
What happens if you borrow billions of dollars to buy real estate and then get foreclosed? It’s just a guess, but I bet you don’t get harassing phone calls or threats that your stuff will be on the street by Tuesday. Instead, you get a foreclosure notice such as the one below. How did this [...]
24Feb2010 | Peter G. Miller | 0 comments | Continued
What If Mortgage Walk-Aways Become Socially Acceptable?
There’s a certain glue that holds societies together and in the U.S. one of those unwritten standards is the idea that you don’t walk away from your home. Such community standards actually have a financial value. If walking away from a mortgage becomes socially acceptable then lenders will have more risk, interest rates will rise, [...]
22Nov2009 | Peter G. Miller | 1 comment | Continued
Government To Punish Mortgage Walk-Aways
Earlier this year the Senate Banking Committee passed the Federal Housing Finance Regulatory Reform Act of 2008 by an overwhelming and bipartisan vote of 19-2. Buried in the proposed legislation is something new and revolutionary, an effort to stop mortgage walk-aways. Walk-aways arise when a borrower can no longer make monthly mortgage payments or sell [...]
13Sep2008 | Peter G. Miller | 1 comment | Continued
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