[quote=davelj]
I really don’t think there are a whole lot of *true* strategic defaulters in SFRs. I think most of the people who say they are strategically defaulting – that is, they can afford to pay but simply choose to default anyway – are not. I think that most of these folks are probably close to hitting the wall financially and just throw in the towel earlier than they might have to from a technical standpoint. They want to make it look like a business decision (“Hey, I can afford it – I’m just going to screw over the lender. Ha!”), but I think most of that is bluster. Most of these folks are headed toward dire financial straights. I’m sure there are some *true* strategic defaulters, but I doubt it’s a huge number if you peeled back the onion of these folks’ finances. I bet that most, although not all, of these folks can’t really afford the homes they’re living in.[/quote]
