With Florida's real estate market still falling and the foreclosure rate continuing to climb, many have speculated about the wisdom of what they call "strategic default." The term refers to people who could afford to keep making their mortgage payments but owe more...
There is a new trend in foreclosures. More homeowners are choosing to ditch their second homes when the property is worth less than the mortgage balance, even if they are still able to afford the payments. This is known as strategic default, in which a homeowner...
This week, GMAC Mortgage Co. halted foreclosure sales and evictions in 23 states, including Florida, after it was revealed that affidavits were signed by individuals who had no personal knowledge of the information contained in the documents.GMAC used what are...
