Sentences with phrase «intentionally defaults on mortgage»

Strategic default: The property owner intentionally defaults on mortgage payments rather than continue to make payments on a property with a greatly reduced value.

Ed DeMarco, acting head of the the government entity that overseas Fannie and Freddie, has refused to sign on to such a program, arguing that it would encourage so many folks to intentionally default on their mortgages that it would end up costing taxpayers more than it saves.