Who's most likely to default on their mortgage?


	Who's most likely to default on their mortgage?

Lexica

9-21-2009 12:40 PM

166 views

tags:

economics, economy, homeowners, econopocalypse

Lexica says:

Not the ones you might think...

1 Comment |

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9-21-2009 5:28 PM

brightlight4

And the poor just lose their homes I guess?

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/264469ec-093a-4484-bb8e-3eb4f367f75e/5BA8484C-383B-4D61-90C5-7BF340BED30E/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/20/RE6B19MV4O.DTL&type=realestate" href="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/20/RE6B19MV4O.DTL&type=realestate" style="font-size: 11px;">www.sfgate.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/20/RE6B19MV4O.DTL&type=realestate"><P>Who is more likely to walk away from a house and a mortgage - a person with super-prime credit scores or someone with lower scores?</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/20/RE6B19MV4O.DTL&type=realestate"><P> Hint: It's probably not who you think. New research using a sample of 24 million individual credit files has found that homeowners with high scores when they apply for a loan are 50 percent more likely to "strategically default" - abruptly and intentionally pull the plug and abandon the mortgage - compared with lower-scoring mortgage borrowers.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/20/RE6B19MV4O.DTL&type=realestate"><P> Experian, one of the three national credit bureaus, teamed with consulting company Oliver Wyman to identify the characteristics and debt management behavior of the growing numbers of homeowners who bail out of their mortgages with none of the expected early warning signs, such as nonpayments or late payments on other personal debts.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/20/RE6B19MV4O.DTL&type=realestate">In contrast with most types of mortgage delinquencies, strategic defaulters often go straight from perfect payment histories to no mortgage payments at all.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/5BA8484C-383B-4D61-90C5-7BF340BED30E/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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