Posts Tagged ‘Don Bisenius’

Strategic Defaults May Force Lenders and Servicers To Modify Loans, Including Principle Reductions

The writing is on the wall. Many people across the United States have decided that it just doesn’t make an ounce of economic sense to continue paying on a mortgage when the underlying asset isn’t worth half of what they owe on paper. A lot of these folks could afford to continue to make payments, but they’re deciding its just not worth it. 

In a May 3rd article on the Freddie Mac site,  Executive Vice President Don Bisenius implores people to continue paying on their mortgage if they can afford to do so. He claims that people walking away from their homes harms communities and further brings down property values.  Mandelman Matters already tears this guy a new one, so I won’t go that route, but I do believe that the banksters might be running a little scared these days.

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