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To: Wayners who wrote (43362)1/18/2011 8:03:20 PM
From: DuckTapeSunroof  Respond to of 103300
 
Re: "If I "tweak" my mortgage or credit card payments, that is a default.

Not so.

Mutually agreed modifications would not generally be perceived by the market as any kind of "default".



To: Wayners who wrote (43362)1/19/2011 8:26:14 AM
From: tonto1 Recommendation  Respond to of 103300
 
When the original agreement is unable to be continued because of financial considerations, in business, that is a default of that agreement. A new agreement that is workable may be reached instead of the absolute finality and failure of the original agreement. You are correct. It is semantics. It is important to avoid actual default by changing the agreement, even though a party suffers.


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