In a national survey of its current clients actively considering or navigating through the foreclosure process,, a foreclosure assistance company, revealed that 34% of those surveyed said the looming Mortgage Debt Relief Act expiration date of Dec. 31 contributed to their decision to strategically default on their mortgage.

“The survey results are not surprising; saw a number of homeowners reach out to us in early and mid 2011, due to the impending 2012 deadline,” said Jon Maddux, CEO of the Carlsbad, Calif.-based firm.  “Many were prompted to begin the foreclosure process in 2011, in order to ensure their foreclosure is complete by the end of 2012.”

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.