Strategic defaulters not likely to obtain a mortgage in the near future

June 16, 2013 by admin

Despite the improving real-estate market, financial institutions are concerned about lending to consumers who have pursued strategic defaults. In a recent VantageScore Solutions survey, 85 percent of respondents believe that consumers who have pursued strategic defaults pose increased risk, even if they meet the institution’s other lending criteria. More than half of those surveyed said they are not likely to approve strategic defaulters for a mortgage loan in the next 12 months.

Source: The Score: Short sales and foreclosures make lenders wary

VantageScore® is a registered trademark of VantageScore Solutions, LLC.

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