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The Advisor | 08.27.2010

Walking Away from a Mortgage Can Be Costly

Recent media reports describe the increasing tendency of financially stressed homeowners to simply “walk away” from their mortgage, a practice called a “strategic default” whereby the owner simply stops making mortgage payments and forces the bank to foreclose on the property. 

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View the video from our program, "The Creative Economy", focusing on steps that businesses can take to overcome obstacles in a difficult economy, featuring State Representative Smitty Pignatelli and former North Adams Mayor John Barrett, III.

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