6:19 am February 25, 2011, by Henry Unger
Did you try to avoid foreclosure for as long as you could?
New data from Atlanta-based Equifax suggest many distressed homeowners in the state are fighting longer to keep their houses, AJC writer Scott Trubey reports.
The data also suggest that “strategic defaults” — when borrowers simply walk away — are less common nationally and in Georgia than previously thought, Trubey writes.
The issue of strategic default “is not as bad as everybody is talking about,” Afshin Goodarzi, managing director of Equifax Capital Markets, told Trubey.
Did you try to avoid foreclosure until all other options were exhausted? Did your lender try to help or obstruct?
Are you trying to hang on now? What’s your lender doing?
Or have you decided to walk away because the value of your home is far less than what you owe? If so, are you concerned about getting credit in the future?
- Henry Unger, The Biz Beat
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