It’s a sad fact that a number of us live in homes that are worth less than we owe on them. Of course that’s not how it’s supposed to work, but the housing market has done a good job of turning everyone’s expectations, and values, upside down. In an effort to escape from their underwater home (the market value is less than what’s owed on the home,) many homeowners have adapted a strategy termed “strategic foreclosure.” Simply put, through strategic foreclosure homeowners who can pay their mortgage are deciding not to do so, resulting in foreclosure. Read More