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Homeowners who "Strategically Default" on a Loan a Growing Problem

By Kenneth Harney, Los Angeles Times
10/1/2009

Who is more likely to walk away from a house and a mortgage: a person with super-prime credit scores or someone with lower scores?

Research using a massive sample of 24 million individual credit files has found that homeowners with high scores when they apply for a loan are 50% more likely to "strategically default" (abruptly and intentionally pull the plug and abandon the mortgage) compared with lower-scoring borrowers.

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Print Date: 2/28/2020
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