1/3 of Americans OK with Strategic Defaults

Mortgage debt
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With the current state of our economy and housing market, many homeowners are still underwater and the stigma attached to foreclosure is steadily eroding as delinquencies are all too common forcing homeowners into strategic defaults.

A survey by the Pew Research Center found that 36% of Americans believe that it is ok to walk away from their mortgage (short sale or foreclosure) under certain circumstances. 

They also found that 59% of Americans state that it is wrong to stop making their mortgage payments and return their homes to their lender, 19% feel it’s acceptable and 17% stated it depended on the circumstances.

 This survey was close to the same results from CoreLogic which finds that 11,000,000 borrowers or 23% are underwater. 

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