'I won't apologise for strategically defaulting'
A white-collar professional who owns six investment properties, as well as the family home, explains why she has chosen to stop paying the bank, writes Karl Deeter.
Strategic default is a contentious issue. Some say it doesn't even exist, although as a day-to-day financial adviser I know that it does - but I cannot say with absolute precision to what extent.
The lack of definition is one problem. There is no universally accepted version of what makes a default strategic.
What we do know are total default numbers, but a full analysis of what lies beneath is not publicly available.
