defaulters

On Saturday, we looked at the newest effort by the Obama administration to address the threat of foreclosures from borrowers who are underwater, or who owe more than their houses are worth. If it works well, the program could deal with the risks of strategic default, from homeowners who could afford to make their payments [...]

Government-owned mortgage-finance titan Fannie Mae announced last week it would lock out borrowers from getting a new loan for seven years if they default on a mortgage they could afford to pay. The move represents the latest effort by the mortgage industry to prevent a new wave of losses that could result if more borrowers [...]