AdriannaF's blog

Fannie Mae is upping the bet on strategic default of home mortgages Wednesday, saying that borrowers who default despite having ability to pay in good faith won't be eligible for a new Fannie Mae-backed mortgage for seven years from the date of foreclosure. Home foreclosures and strategic defaults are both increasing. There are a lot of offers online to assist in strategic default. The House really passed the FHA Reform Act with a provision for penalizing strategic defaulters within the bill.

Article Resource: Fannie Mae wants to defer strategic default with consequences