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  • Mary K. Lenahan, J.D., Realtor

More Bank Strategies: Reward Homeowners to “Just Say ‘No'” to Strategic Default


Banks Want Americans to Just Say "No" to Strategic Defaults

Banks Want Americans to Just Say "No" to Strategic Defaults

Loan Value Group L.L.C. of Rumson, N.J. introduced a program to encourage  mortgage servicers and lenders to  identify borrowers where a “strategic default” makes economic sense, and then to offer such borrowers a monetary reward for not walking away from the properties. 

Don’t get excited the “reward” is tiny.    The only people who can make money in this mortgage debacle are the “banks”… but you knew that.

The reward purportedly will be 8 to 10% of the outstanding loan balance.  You won’t get the reward until you pay off the loan, that is, assuming the “bank” does not lose the agreement.    New York Times:  Paying People Not to Walk Away.

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Mary K. Lenahan, JD, Realtor
Beautiful-California-Homes-For-Sale.com
SEARCH THE MLS HERE
(626) 798.9050
Mary.Lenahan@Dilbeck.com
Cell/Text: 626.226.6056
Your Business & Referrals Are Appreciated!
DRE 01867737

 
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