Oppenheim Law's New Client? Federal Government Strategic Default Case
The government is underwater, just like so many homeowners. As the political negotiations on raising the debt ceiling draw closer to the August 2nd deadline, several visionaries in the House of Representatives have suggested that the Federal Government get on board with the rising trend and strategically default.
While such a move is unthinkable for some in Washington and Wall Street, several others must have seen Oppenheim Law’s strategic default seminars and decided that the strategy should be applied to the government’s debt problem.
Just like many homeowners underwater on their mortgages, Rep. Austin Scott (GA-R) is willing to put up with some “short-term volatility” in order to right the ship and get the government’s finances in order. Such an attitude to strategic default goes to show that it can be a viable and acceptable option to many different people and even counties in financial trouble.
There shouldn’t be any stigma attached to default; after all, even some in the government are considering it. In fact, such action should likely make the government more sympathetic to individual homeowners now that the United States is in the same boat.
Oppenheim Law hopes that if the U.S. decides to go down the strategic default path, it keeps in mind that we are the experts when it comes to strategic defaults.
For years, we have been telling homeowners that the government is not going to bail them out in the way that they propped up the banks, Wall Street and investment bankers. We’ve been advising homeowners that if they want to save their home and achieve financial stability they will have to craft their own bailout.
Thousands of homeowners have heeded our warnings and taken steps to save their homes. Maybe it’s time our politicians listen to this advice as well.