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Strategic Defaults Increasing Dramatically | Why Keep An Upside Down Home? – Fresno, CA

Why should a home owner keep paying on a home when they are upside down? Is there some sort of moral aspect to paying on a mortgage even when its so severely upside down that the ‘home owner’ has become…in essence…a tenant with their mortgage company as their landlord?

You might be surprised to learn that there are absolutely no ‘moral imperatives’  to pay an upside down commercial loan. Once the commercial property stops making financial sense borrowers often choose to do a ’strategic default’. This has been a normal aspect of commercial loans for years…so, why is there such a double standard when it comes to residential.

Watch this video and share your comments:

Jeremy Smiley, Realtor
Short Sale Specialist
London Properties
(559) 790-8760

About Jeremy Smiley

Jeremy Smiley is a life long resident of Fresno CA. He started his real estate career in 2005 after an eight year career in marketing. After graduating at the top of his class at the London Properties School of Real Estate, he quickly earned the “Senior Sales Associate” Distinction. By his second year in business Jeremy had become a Mutil-Million Dollar Producer. At the end of 2007 Jeremy saw the pending real estate decline and decided to jump ahead of the wave of foreclosures and become a "Short Sale Specialist". Since then Jeremy has helped countless families avoid foreclosure and save their credit. Jeremy puts it best when he says "I'm saving our economy and community one family at a time."

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