“Legal turbulence” characterizes the past three decades of home mortgage lending, encompassing the transformation of loan products, their distribution, and industry regulation. The regulatory aspects of this transformation are the subject of my treatise, Residential Mortgage Lending: State Regulation Manual, now in its 30th year of publication. In the 1970s, some institutional lenders turned away …
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Most Americans opposed to walking away from a mortgage
Most Americans are opposed to the notion of homeowners simply walking away from their mortgage, says a new FindLaw survey. Also called a “strategic default,” some homeowners are choosing to voluntarily stop making their monthly mortgage payments, often because they cannot make the required monthly payments because of unemployment or other circumstances, or because the …
- April 7, 2011
- Scott Augustin
