Four AGs Say Foreclosure Settlement Proposal Promotes Strategic Default
Florida’s Pam Bondi, 3 other AGs sent letter Tuesday explaining among other claims that homeowners would strategically default on the mortgage in order to take advantage of consumer-friendly terms.
Palm Coast, FL – March 24, 2011
Four Republican attorneys general participating in the investigation into mortgage servicing practices wrote a letter to Iowa AG Tom Miller stating that the proposed settlement is too strict.
Florida AG Pam Bondi, Texas AG Greg Abbott, Virginia AG Kenneth Cuccinelli and South Carolina AG Alan Wilson sent the letter Tuesday explaining among other claims that homeowners would strategically default on the mortgage in order to take advantage of the consumer-friendly terms.
Full Story >>>> HousingWire [March 23]
Stratigic Default
This has more meaning if you have listened to the Glenn Beck program this week.