LOMBARD, Ill.-As credit unions like SECU partner with members to develop strategies to avoid foreclosure, there is a segment of the population that simply does not want to work with the financial institution, warns Bill Handel, VP of research and development at Raddon Financial Group.
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"A big issue credit unions are facing, especially in the sand states, is the strategic default. It's the consumer who is stretched financially yet can afford to make the payments. But they are upside down and don't see any prospects soon to turn things around, so they say why bother."
