Strategic Default In Arizona: Is It Wrong?

In Arizona, many people are faced with a situation where they owe more on a home than it is worth and have “negative equity” in their home. Deciding to default on a loan when you can afford the monthly mortgage payment has become known as “strategic default” and is currently a hot topic with the media.

Is strategic default wrong? Does doing a strategic default mean that you just simply “walk away” from the home? Is there a right and a wrong way to strategically default on your mortgage?

Kevin Hardin is a local short sale, loan modification and bankruptcy expert in Phoenix and answers just a few of the questions about people have regarding strategic defaults in this short video.

Have more questions about strategic defaults in Arizona? Contact  the local experts on this topic by clicking on the banner below.

This site is for informational purposes only. It is not sponsored or in any way affiliated with the government. If you are in need of a mortgage loan, consult with a licensed mortgage professional. All fair housing and equal housing opportunity laws apply when applying for a mortgage or buying a home. Copyright 2012.