Strategic defaulters, beware. The feds are coming for you. And they are not happy.
Investigators are searching not only for lenders who have sold materially deficient loans to Fannie and Freddie, but also individuals, including those who reneged on their promises to repay their mortgages. So if you are a “strategic defaulter” who decided it was better to walk away from your obligation than to keep paying for a house that was worth substantially less than you owed, it’s time to start looking over your shoulder.
If you conveniently left off the fact that you have an outstanding mortgage you failed to pay, or that you have a deficiency judgment against you for the difference between what you owe and what the house sold for at foreclosure, you’ve committed mortgage fraud.
YET THEY FAILED TO ARREST ONE BANKER DURING THIS ENTIRE SCAM! The hypocrisy is mind numbing.
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