By: Carrie Bay
A faction of House Democrats have called on Treasury Secretary Timothy Geithner and the regulator of Fannie Mae, the Federal Housing Finance Agency (FHFA) to suspend the GSE’s recently announced policy to sue homeowners who strategically default on their mortgage.
In late June, the mortgage giant issued a notice stating that defaulting borrowers who [...]

The results from a recent survey through the Phoenix Business Journal on whether or not you think it is immoral or unethical for homeowners to walk away from their mortgages (votes cast 1037)
53% of the poll takers said yes they think it’s immoral
37% of the poll takers said no they do not think it’s immoral
And 10% [...]

Almost 900,000 loans that were current at the beginning of the year are at least 60 days delinquent or in foreclosure as of July, according to the July 2010 month-end report released by Lender Processing Services’(LPS).
Although delinquency volume fell 2.3% month-over-month in July to 9.3%, it remains near historically elevated levels and record high numbers [...]