Strategic defaulters opt to continue paying on second liens

 · Jumbo mortgage holders pose highest risk of strategic default. Business.. likely to opt for a strategic default and walk away from their homes.. can afford to keep paying their loans but see.

Increasing or sustained profitability that is used to pay down debt rather than become invested further, or used to reward shareholders. 2) Defaults and debt restructurings. In previous times, when.

 · Unions are still required by law to represent members and non-members alike, and, as a result, some workers will now be paying more than their fair share. Allowing some to opt out of paying anything at all for collective bargaining will make it harder for all public employees to provide the services that everyone depends on.

 · That means that if you have a debt that’s, say, been delinquent for 6 ½ years, you may not want to pay it off — in favor of paying off more pressing debts like your car, home or utilities bills.

Recasting invariably requires a new title search to discover is any intervening liens or second encumbrances have been recorded. This is especially necessary in the case of a delinquent borrower who might have sought aid from other sources. A lender may also require additional collateral and/or cosigners for the new financing agreement.

Yes, junior liens mortgages in any position usually have the power to collect monies owed through the foreclosure process. Of course if there’s no equity to cover the second position then foreclosing does not help you get a return because foreclosing lien holders always have to pay superior liens.

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What Happens with a Second Mortgage Default? If you can’t afford to make your monthly payments on both your first and second mortgages, you may be contemplating stopping payments on your second mortgage. (As a general rule, if you had to choose between paying your first or second mortgage, it’s always best to pay the first mortgage.)

Unlike borrowers who can’t afford to keep up with their mortgage payments, strategic defaulters have the ability to pay but choose to walk away. Valadez, a retired teacher, says he earns enough to afford the more than $2,000 monthly payments on his two home loans.