3 Reasons the Term “Strategic Default” Is Misleading

In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from your mortgage—if they were underwater (owed more on their home than what it was worth)....

It’s a sign of times!

Most of us grew up thinking that if we plan well and play by the rules, we’d never have to stand by as our financial lives unraveled. But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll.  Since 2007,...