Time nearly up for Florida's "strategic defaulters"?

By
Real Estate Agent with Total Realty Corp. SL#3200658
http://actvra.in/Kfq

Time nearly up for Florida's "strategic defaulters"?

clock

Floridians who lose homes to foreclosure may be doggedly pursued for unpaid mortgage debt

 

http://www.palmbeachpost.com/news/business/real-estate/unpaid-mortgage-debt-targeted-for-revenue-stream/nSgFM/

 

"A strategic defaulter is defined as someone who can afford to make their mortgage payment but...."

WARNING:  Controversial Commentary Ahead! Well, I surely hope this is true.  I've got a heart for everyone that's struggling financially- but as these words from this recent story in The Palm Beach Post indicate, time could very well be running out on folks that have the means to make their mortgage payments- yet have made the decision that they just don't feel like doing so.

Reality check, folks: sometimes real estate appreciates and sometimes it doesn't. That's what a market is- a place where value and worth are dynamic rather than static, a place where future value is surely without guarantee. I've seen more and more folks heading down this Strategic Default Highway- and I still can't seem to view the route as anything more than a path one chooses to take when doing the right thing and honoring one's committment has simply become un-cool.

I could be in the minority- which is all well and good, mind you- but I say this, Mr. Strategic Defaulter: Unless you plan on giving the mean 'ol banks some of your money to "make things right" down the road when property you own gains value, the "right thing" for you to do now is to pay them what you owe them.

Time nearly up for Florida's "strategic defaulters"?

Posted by
 
DENNIS B. BURGESS
Property Manager

Licensed Florida Realtor
 
Total Realty Corp.
2683 S. Woodland Blvd.
DeLand, FL  32720
 
205-445-4755 cell/direct
386-734-5155 office
 
 
Turning vacant into occupied, and "houses" into "homes"SM
 
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Ambassador
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Melissa Zavala
Broker, Escondido Real Estate, San Diego County
Broadpoint Properties

Strategic defaulters are always at risk, but this sure is good advice.

October 18, 2012 06:23 PM
Rainmaker
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Dennis Burgess
Orlando Property Manager and Realtor
Total Realty Corp.

Hi, Melissa:  Thank you for sropping by, and for your comment.  Indeed.  They are always a risk- and one many fail to consider.  Few folks spend much time considering the bigger picture- especially when they fall within the small picture-side of the discussion.

October 19, 2012 03:08 PM
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Dennis Burgess

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