Very interesting article for those who think "Strategic Default" is safe.

[Eric M.]

http://www.chicagotribune.com/classified/realestate/foreclosure/sc-cons-0913-strategic-default-20120913,0,4134066.story

I think it is particularly interesting how they indicate that they will pursue you for "abusing" the system, not because you broke the rules or the law. This widens things up considerably for those of you delving into the gray, ethically questionable areas of this mortgage crisis. Even if your lawyer (or someone on BP) tells you that you are not breaking the law, you still might be accused of abusing the system.

They also hint at the tricky ways they will nail you. Not necessarily for the actual default but in the future, if you don't properly disclose that default at every turn, you have committed fraud. I am sure there are a lot of other technicalities that will trip these folks up going forward.

Seeing as the gov't has a wonderful whistle blower program, maybe that will be the new "guru" get rich quick scheme. Turn in strategic defaulters and people who buy junior liens at auction and stiff the senior liens while collecting rent for the property.