strategic default
January 26th, 2010
Companies use strategic default to walk away from their obligations. Morgan Stanley walks away from 5 buildings in San Francisco last year. Tishman Speyer and Blackrock walk away from Stuyvesant Town and Peter Cooper Village in Manhattan. They just gave the keys to the banks. When companies do this it is good business. But let a homeowner do this and they don’t have any morals. People seem to think that homeowners have an obligation but not a company.
Patrick
Entry Filed under: Uncategorized
1 Comment Add your own
1. Laura | January 28th, 2010 at 3:38 pm
should’t you pay if you have the money? Some people have the money. but they rather keep it. this is okay. you salvage what you can. save the money because you will need a large down payment the next time you buy a house.
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