http://www.recessionwire.com/2009/11/03/underwear-economists-racession-nation/ The upside of the downturn Fri, 03 Feb 2012 18:42:12 +0000 hourly 1 http://wordpress.org/?v=3.0.2 http://www.recessionwire.com/2009/11/03/underwear-economists-racession-nation/comment-page-1/#comment-4035 Gmac FHA Mortgage Fri, 30 Sep 2011 17:44:49 +0000 http://www.recessionwire.com/?p=10427#comment-4035 The motivation for a strategic default may depend on how far a borrower is underwater. Having a mortgage that’s twice as much as the value of a home could be somewhat discouraging. The prospect of being stuck with a losing investment that may not reach a break-even point for 10 years or more may be enough motivation to take a walk. The motivation for a strategic default may depend on how far a borrower is underwater. Having a mortgage that’s twice as much as the value of a home could be somewhat discouraging. The prospect of being stuck with a losing investment that may not reach a break-even point for 10 years or more may be enough motivation to take a walk.

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