(PRWEB) December 10, 2010
Strategic default expert Paul Stevenson, creator of the acclaimed Strategic Mortgage Default Method, http://www.strategicloandefault.com , has recently announced his view that the phenomenon of property owners selecting to walk away from their mortgages, even when they have the potential to pay, is far from more than.

Mr. Stevenson stated that, even though a lot of voices in the media and the government would have Americans think that the worst is behind us for the true estate industry, this is nearly absolutely not the case.

The mixture of continued job losses, tremendous declines in true estate costs, and the enhanced backlog in the housing industry due to the recent foreclosure processing scandals, inform the actual story, said Mr. Stevenson. Housing rates are not going to rebound any time quickly.

According to recent research by Fitch Ratings, the shadow inventory of delinquent loans, foreclosures, and bank-owned properties has ballooned to 7 million, which would take a lot more than three years to clear. Fitch believes that this developing number will trigger additional price declines and prolong the already extended actual estate crisis.

Mr. Stevenson went on to state, Dont be fooled by news about loan modifications enhancing the scenario. The majority of modified loans have re-defaulted within a year. Government programs are not solving the problem.

Mr. Stevenson believes that the longer the actual estate crisis drags on, the much more underwater homeowners who have the indicates to continue paying their mortgages will make the monetary selection to walk away in a strategic default which will in turn prolong the price tag contraction for years.

At a specific point, even those who have been hesitant to choose strategic default for moral causes, or to shield their credit scores, will no longer be in a position to deny that walking away is in their economic very best interests, stated Mr. Stevenson.

He continued, Strategic default is a economic selection, not a moral one particular, and its the correct selection for several underwater home owners.

Mr. Stevenson noted that, even with strategic default so common, it is not a basic open and shut method, stating There are crucial inquiries that an underwater borrower should address before deciding that strategic default is the proper move. Even if you currently feel you will never select strategic default, it is best to be ready in advance with the understanding you need. In my Strategic Mortgage Default System, I guide you by means of the method of evaluating the dangers and rewards of strategic default for your specific scenario.

Paul Stevenson designed the Strategic Mortgage Default Program following going by means of the struggle of successfully disposing of two underwater mortgages himself, without having losing his other assets, and becoming an specialist on strategic default in the procedure. He recognized that there had been nowhere for him to turn to find a clear, concise, complete description of the strategic default process, and thus decided to generate a system to support fellow distressed homeowners avoid the pitfalls that he encountered.

For much more information on Paul Stevenson and the Strategic Mortgage Default System, please check out Mr. Stevensons internet site, http://www.strategicloandefault.com

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