Watching “Strategic Defaults” A couple other points from Rick Sharga’s excellent presentation yesterday, including a much-needed “silver lining”: The “X” factor in everyone’s foreclosure projections is what happens with “strategic defaults.” Typically, people don’t pay their mortgages because they can’t. A strategic default is when someone doesn’t pay their mortgage because they’ve decided not to....Read More
New Real Estate VocabularyAmongst other things, the current recession/financial melt-down/housing bust has inspired some new real estate terms (or at least adjectives). So, a “normal” transaction involving one Buyer, one Seller, and two Realtors is now called a “traditional sale,” to distinguish it from all the ones that are “lender-mediated” (foreclosures and short sales). Now,...Read More
