Put a stop to strategic defaults

Editor,

Having read the article dated Oct. 26 with reference to underwater mortgages (http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=225799), it would make sense for the lenders to vigorously pursue strategic defaulters. This would decrease the number of foreclosures that are, in turn, forcing down property prices.

A strategic default may be caused by foreclosures, but higher foreclosures cause strategic defaults. This circle has to be broken for the good of all.

Malcolm Calladine
Prudential Palms Realty
Sarasota