Phasing Out Non-Recourse Home Loans

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Phasing Out Non-Recourse Home Loans

Posted March 7th, 2010 by admin
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Daily News Brief

The topic du jour is David Streitfeld’s article in the NYT about the rich opting for strategic defaults. If you missed it, he uses some data from Core Logic and anecdotal tales to argue that the rich are defaulting at a rate in excess of the general population.

Streitfeld points out the concern that strategic defaults cause in the lending community: