The term 'strategic default' refers to someone who can afford to make mortgage payments chosing not to. They may simply turn in the keys to the lender and walk away or, in some cases, live rent free until foreclosure is completed. As reported in GEI News last week, stopping payments and waiting for eviction creates an average term of more than than two years of rent-free, payment-free living. Last year 14% of homeowners said they would consider a strategic default, according to CNN Money. This year the number has almost doubled to 27%. more »

The mortgage foreclosure crisis has finally hit home. Bank of America has been subjected to a foreclosure action because of failure to compensate wrongfully processed homeowners who owned their home outright. When the bank failed to make court ordered payment for homeowner legal fees the homeowner completed a foreclosure action against a local bank branch office in Collier County, Florida. more »

Mortgage expert Michael David White says it will take until 2018 for the housing markte to return to normalcy. more »

Recently Barbara Ann Jackson and Law & Grace, Inc have focused a great deal of effort on fraud that is executed within various foreclosure proceedings. more »

Bank of America is threatening to throw a West Hartford family out of their home even though the couple never missed a mortgage payment. more »