Strategic Defaults Are A Contributor To Guideline Changes
By George Souto, Your Connecticut Mortgage Expert
(George Souto NMLS #65149 FHA, CHFA, VA Mortgages)
I posted a blog yesterday "Strategic Defaults are a big part of the problem" giving my reasons why I feel that Strategic Defaults Are A Contributor To Guideline Changes, and that i would post another blog to point out some of the Guideline changes that have come about because of Foreclosures and Shortsales. I feel very strongly about this issue, because I see firsthand every day the impact that Foreclosures are have on the ability of others to purchase a home, that anything that voluntarily further contributes to that is inexcusable in my opinion. Strategic Defaults are completely voluntary and a CHOICE to do so, and NOT out of NEED. I started off yesterday's blog with my definition of what I understand a Strategic Default to be, so I will state it again: Strategic Default: A foreclos...
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