Page 3 - Mortgage Default News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Blueprint for katie and others underwater by 20% or more, is to ask the bank for a short sale, selling the house for market value, even if it is less than what is owed. if they won't, she says stop making payments and save that money until the bank forecloses. is it unethical to walk away? >> are you kidding me? of course you should walk away if the bank isn't willing to help you. >> reporter: this strategic default plan is used by banks, too. they call it commercial mortgage default. morgan stanley did it, walking away from its lender on six san francisco office buildings in 2009. it is not a...

"the wall street journal." the s.e.c. is considering new rules to. it comes after revelations that lehman brothers was hiding its true debt levels before it eventually collapsed. los angeles times. a sign the housing market is turning around. mortgage default notices, the first step toward foreclosure, plunged statewide 40%. the seattle times. school districts across the country are warning hundreds of thousands of teachers that their jobs may be eliminated in june as districts resort to drastic money-saving measures. a lot of those jobs -- >> new york looking at the same problem. >> a lot...

Down. if you can believe it. $1.4 trillion in commercial real estate loans will mature between now and 2014. analysts say half of those are already under water. meaning the property is worth less than the remaining balance, basically this is what we saw happen in the homemaker and lots of folks have been watching it and saying the commercial market will be the next shoe to drop. we'll see if there is a sequel in the banking industry to go along with this. gregg: let's move to the housing industry. housing market could also be poised for another melt down, foreclosure rates for -- down for dece...