Biggest Defaulters on Mortgages Are the Rich

[poorgradstudent]

This certainly goes against a big part of the media narrative (both left and right) about defaults. The leftwing coverage focused more on predatory lending while the right focused more on demonizing Freddie/Fannie. This study is looking more at actual defaults rather than being underwater.

Plus, let’s face it, it’s much easier to downgrade from a 1.5m home to a 800k home than it is to go from 500k to 300k. Lot of “want” vs. “need”.

[sdrealtor]

And its alot easy to get by without your credit when you got a few million or even a few hundred K in the bank.

[sdrealtor]

And its alot easy to get by without your credit when you got a few million or even a few hundred K in the bank.

[sdrealtor]

And its alot easy to get by without your credit when you got a few million or even a few hundred K in the bank.

[sdrealtor]

And its alot easy to get by without your credit when you got a few million or even a few hundred K in the bank.

[sdrealtor]

And its alot easy to get by without your credit when you got a few million or even a few hundred K in the bank.

[enron_by_the_sea]

What? Rich is defaulter! When did he buy? Was that first payment default?

[enron_by_the_sea]

What? Rich is defaulter! When did he buy? Was that first payment default?

[enron_by_the_sea]

What? Rich is defaulter! When did he buy? Was that first payment default?

[enron_by_the_sea]

What? Rich is defaulter! When did he buy? Was that first payment default?

[enron_by_the_sea]

What? Rich is defaulter! When did he buy? Was that first payment default?

[Arraya]

http://www.csmonitor.com/Money/Paper-Economy/2010/0709/Foreclosure-double-standard-Why-the-rich-get-away-with-defaulting?source=patrick.net
Foreclosure double standard: Why the rich get away with defaulting
Homeowners of modest means who walk away from their housing debt are viewed as dead beats while the wealthy who do the same are presumed to be making a good financial decision.

[Arraya]

http://www.csmonitor.com/Money/Paper-Economy/2010/0709/Foreclosure-double-standard-Why-the-rich-get-away-with-defaulting?source=patrick.net
Foreclosure double standard: Why the rich get away with defaulting
Homeowners of modest means who walk away from their housing debt are viewed as dead beats while the wealthy who do the same are presumed to be making a good financial decision.

[Arraya]

http://www.csmonitor.com/Money/Paper-Economy/2010/0709/Foreclosure-double-standard-Why-the-rich-get-away-with-defaulting?source=patrick.net
Foreclosure double standard: Why the rich get away with defaulting
Homeowners of modest means who walk away from their housing debt are viewed as dead beats while the wealthy who do the same are presumed to be making a good financial decision.

[Arraya]

http://www.csmonitor.com/Money/Paper-Economy/2010/0709/Foreclosure-double-standard-Why-the-rich-get-away-with-defaulting?source=patrick.net
Foreclosure double standard: Why the rich get away with defaulting
Homeowners of modest means who walk away from their housing debt are viewed as dead beats while the wealthy who do the same are presumed to be making a good financial decision.

[Author]

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