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Fannie Mae is upping the bet on strategic default of home mortgages Wednesday, saying that borrowers who default despite having ability to pay in good faith won't be eligible for a new Fannie Mae-backed mortgage for seven years from the date of foreclosure. Home foreclosures and strategic defaults are both increasing. There are a lot of offers online to assist in strategic default. The House really passed the FHA Reform Act with a provision for penalizing strategic defaulters within the bill.

Article Resource: Fannie Mae wants to defer strategic default with consequences