Governor Cuomo wants to utilize four hundred million dollars of federal housing money to fund a buyout program of homes destroyed by Superstorm Sandy. Governor Cuomo had stated these homeowners are trapped because no one will buy their home since it was destroyed and it was in a flood zone. He wants the state to pay one hundred percent (100%) of … [Read more...]
Strategic Defaults
Walking Away From Your House Strategic default is the new concept in how homeowners are dealing with mortgages on homes that are underwater. A strategic default is simply when you stop paying your mortgages . Many homeowners are considering strategic defaults on their mortgages. It is estimated that over eleven million homes are now underwater … [Read more...]
