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Buying a home ESP in such circumstances doesn't happen by accident. This is why lawyers and financial anylysts exist. The entire transaction can be set up months or years before execution. There are many ways to fool the banks. Also I'd rather not give specific examples. If you don't know then it's probably better left that way.

Most of the flood of responses are from yjacket who cannot possibly represent the Mormon church as a whole.

Sorry I do not agree with your view no matter how much stuff you heap up, the result is the same. It seems you do not believe LDS members should hold a higher standard.

Sorry I don't understand what you are looking for. Are you arguing that the ratio of members doing something vs non-members will then justify the members? There are tools available to find out what's happening. Most of the transactions are public record on your county's website or other locations. It's not hard to follow the dots to find out what people are doing. There are pockets and groups who participate more than others, as stated in a post earlier, particularly markets where there is large fluctuation of housing costs thus greater risk. I had asked what the church's position was on the matter, and have gotten a wide variety of responses.

This isn't about raw stats, it's why members should be mixed up in the same or worse practices as their nonmember partners. Please read the original post. The original question had nothing to do about being backed into a corner or being stressed financially, but instead dabbling with the system to buy better while dropping commitments of first or second mortgages which the members are in a perfect position financially to handle. Meanwhile remaining in good standing in their church and community. This is a very real problem, I don't understand why it's getting written off in this thread.

This has everything to do with members of the church otherwise it would be posted in another board. What's painful to see is how much members are in fact keeping up with non members in such practices. Spinning documents so a creditor will give a loan to someone who is not making payments on other properties is not an area I expect to see members in good standing or high positions being. Also it was asked if this is between them and God. Yes there is a day of judgement. But there is the cost the rest of us have to bear being the impact to the economy in housing price drops, government bailouts among others. The money which is not getting paid off by the borrower has to be covered somehow whether it's a loss to the lender or a tax on the people. Debt jubilee is no longer in practice nor are the laws of Moses.

Many things are legal but are not right no matter how much they are spun. Phoning up a financial expert or lawyer will always help one find ways around penalties. Does it make it right?

The title of this thread is strategic foreclosures. It's regarding people who can honor commitments but choose not to for their gain. This is not about blaming the creditors or deliberately reneging on a contract so one can better position themselves for profitability. The responses I'm seeing are dissappointing.

Temple interviews and church standards ask members if they and honest with their fellow man. Do members remember creditors and banks as their fellow man? More and more foreclosures and short sales are being used by those who have financial means to sell outright but choose not to only to increase their wealth and standing in society. Basically when a house goes down in value, a member will buy a much more expensive home using either their own funds or a money from a second loan on the first, then short-sell or foreclose the first. The same member is then happy to pocket the profits on the second home when the value goes up. This is a hot topic where house price fluctuations are greatest, and use of foreclosures and short-sales are a regular occurrence. Often times the people who are guilty of doing this blame the bank or the system as they move to their more expensive homes and continue to remain in good standing and take on more and more prominent callings in the church. Those who choose to 'play by the rules' are often times looked down upon by other members. Hundreds of thousands or millions are at stake when such decisions are made. This can affect a members standing in society and their ward. Who wouldn't be tempted? Should we as members of the church be held to a higher standard?