MSNBC talks about the rise of Strategic Defaulters
In Miami and South Florida, Strategic Defaults are on the rise. Homeowners stop paying their mortgage and fight the foreclosure with an experienced defense attorney. They stay in their homes for years. There is no rush for a loan modification or shortsale. They know the dangers of a deficiency judgment but know there is a way out. One thing for sure, its only a strategic default if you have a strategy with experienced defense counsel.