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Should Mortgage Giants Pursue Borrowers Who Walked Away?

Jan 21, 2014   //   by   //   Mortgage News Daily  //  Comments Off on Should Mortgage Giants Pursue Borrowers Who Walked Away?

By Around the Web If any company captures the zeitgeist of the housing collapse, it might be YouWalkAway.com. Started in 2007, the California-based firm helps underwater homeowners – those whose houses are worth less than what they owe on their mortgage – decide whether they should stop paying on their loans. If borrowers choose to default, the company’s advisors then walk them through the foreclosure process.

Co-founder Jon Maddux says that when the firm launched in 2007, real estate professionals told him it might last two or three years. But the steady stream of clients kept coming, and Maddux says he’s……(read more)

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