The US House of Representatives voted 188-241 to reject a measure that would have given bankruptcy judges the ability to reduce principal balances and change the terms of mortgages for the financially distressed homeowners....
Read MorePart II of this article discusses the rational decision of a negative equity homeowner to strategically default on his purchase-assist mortgage, and thus force the lender to buy his property, with no personal liability for the lender’s losses when the retention of the property is a mismanagement of his assets.
Read MoreThe New York Times reports housing prices in the U.S. flatlined in October, 2009 despite low mortgage rates and a homebuyer’s tax credit. These incentives, which should have been powerful enough to continually prop up national...
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