Humpty Dumpty and the Foreclosure Crisis: Lessons from the Lackluster First Year of the Home Affordable Modification Program (HAMP)

Jean Braucher 
University of Arizona - James E. Rogers College of Law

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1518098

"Strategic" Mortgage Default: Why It's Not Unethical

This article appeared on the Huffington Post website in October, 2009:

Last month a study from the credit reporting agency Experian and consulting outfit Oliver Wyman estimated that close to a fifth of troubled mortgages involved borrowers who were "strategically" defaulting--walking away from mortgages they could pay but decided not to because they owed more than their houses were worth. 

http://www.huffingtonpost.com/2009/10/12/strategic-mortgage-defaul_n_317756.html

Five States Get U.S. Funds to Aid Homeowners - that includes AZ

http://online.wsj.com/article/SB10001424052748704629804575325101835373456.html?mod=WSJ_RealEstate_LeftTopNews

Fannie Mae Increases Penalties for Borrowers Who Walk Away: Seven-Year Lockout Policy for Strategic Defaulters

http://www.fanniemae.com/newsreleases/2010/5071.jhtml

No Help in Sight, More Homeowners Walk Away

In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040. ...


http://www.nytimes.com/2010/02/03/business/03walk.html

Strategic Defaults and the Foreclosure Crisis

Nearly a year after the Obama administration unveiled its ambitious housing rescue program, foreclosure tallies continue to break records. ... But as the crisis rumbles forward, an additional driver of home foreclosures has become clear: Many borrowers have the means to keep paying the mortgage but are simply walking away because they believe it's best for their finances.

http://finance.yahoo.com/news/Strategic-Defaults-and-the-usnews-2190373684.html?x=0&mod=loans

New penalty for homeowners who walk away

Check out this blog post I found on MSN: http://articles.moneycentral.msn.com/SmartSpending/blog/page.aspx?post=1773893

New Home Sales Drop to Record Low in May

              New Home Sales Drop to Record Low in May

Mortgage Aid Leaves Some Borrowers Worse Off - WSJ.com

Mortgage Aid Leaves Some Borrowers Worse Off - WSJ.com

The government's mortgage-modification program has left some struggling homeowners worse off than they were before.