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Strategic defaults remain high, but relief may be in sight |
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September 30, 2010 |
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According to updated findings from Experian and Oliver Wyman, strategic defaulters, who are defined as remaining delinquent for six months after the initial date of delinquency, continued to be a high percentage of all mortgage delinquencies at 19 percent in Q2 2009.
Data from the first half of 2009 may contain the first signs of a "break in the clouds." The report shows that the absolute number of strategic defaults for the first half of the year, 355,000, as well as first-time mortgage delinquencies in general, declined in successive quarters in 2009. This data suggests that they may have peaked in Q4 2008.
Source: Experian-Oliver Wyman Market Intelligence Reports
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Download the more detailed study, Understanding Strategic Default in Mortgages: Q2 2010 update.
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