As we have written in many of our articles on the web site, the second wave of foreclosure homeowners are choosing to strategically default on their mortgages. But a majority of homeowners are doing it WRONG and not taking advantage of other options to foreclosure like short sales. See the impact on a foreclosure on your credit score.
Strategic defaults accounted for about 35% of defaults by U.S. homeowners in December 2009.
Read full article here at Los Angeles Times...
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