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Unemployment and other factors have caused many homeowners to involuntarily default on their mortgages. At the same time, falling home prices, the possibility of being underwater for many years and advice from certain influencers, or “mavens,” may have encouraged others…

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RISMEDIA, July 7, 2010—With so many homeowners facing tough decisions about their mortgages in or approaching default, questions abound about how to best handle the complex situation with the bank lenders they’re indebted to. To help clarify such confusion and shed light on optimal homeowner options, real estate finance expert Marian Anthony, author of Short Sale RUSH, sheds light on the five most common questions homeowners in default are asking.

1. Should I intentionally default on my home…

Everyday I hear people ask, "Do you think the real estate market has finally hit the bottom?"  Depending on what side of the fence you are on, you may not like the answer. NO!  For many, this is the best real estate market in the world, for others it is the worst.  It all depends on if you are an educated Investor or a Distressed Home Owner. 

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According to “cure-rates” measured by a credit-rating firm, Fitch Ratings Ltd. borrowers are 24% LESS likely to cure their default than they were 5-7 years ago. Only 6% of homeowners who end-up in default try to cure the default, meaning that they pay the back-payments to prevent foreclosure. Reasons for the lower cure-rate range from homeowner “walk-away” attitudes in response to falling home prices, high unemployment rates, and over-extended credit. To make matters worse, the ridiculous lender backlogs and delays…