Research finds increase in strategic foreclosures

05/3/2010 | CNNMoney

Studies by University of Chicago and Northwestern University researchers found that 31% of foreclosures appeared to be strategic, up from 22% last year. The foreclosures highlighted in the studies come when homeowners owe more on a mortgage than the home is worth but have the wherewithal to make the payments. About a quarter of borrowers were underwater at the end of last year, and the social stigma tied to foreclosure seems to be lessening.

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