In a previous blog, I cited a statistic that almost 1/3 of all foreclosures are "strategic defaults", that is, situations where a homeowner has the means to continue paying on his mortgage but decides to default instead because of a negative equity position.
In that blog, I said that Americans need to buckle down and honor the promises to repay that we made when we purchased our homes. To read an interesting counter-argument to mine, click HERE.
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