Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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Strategic Defaults Increasing As Homeowners Choose Not To Pay Their Mortgage

And we will see plenty more in the Phoenix area

According to new Treasury data released yesterday, about 300,000 Americans have received permanent loan modifications. But a higher number of homeowners are being denied permanent modifications and are being dropped from the program.

New data from the University of Chicago and Northwestern University found that strategic defaults jumped in the first quarter of 2010. In fact, last quarter, “more homeowners voluntarily defaulted on their mortgages and chose to walk away from their homes than the total number of mortgages permanently modified to date under the Administration’s year-old Home Affordable Modification Program (HAMP),” according to Steve Cook, who writes Real Estate Economy Watch with former National Association of Realtors Chief Economist David Lereah.

Read more about this increasing amount of strategic defaults on the full story on my Money Watch blog.

About the Authors - Updated 2018

If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with Haven Express @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.

Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!

Tony Marriott - Chief Executive Officer - Haven Express @ Keller Williams Arizona Realty

Suzanne Marriott - Chief Learning Officer - Haven Express @ Keller Williams Arizona Realty

Associate Brokers, REALTORS
Haven Express
Keller Williams Arizona Realty
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