Strategic Default. The decision by a borrower to stop making payments on a loan, even though the borrower is able to continue making payments. Strategic default most often appears in the home or commercial mortgage context when the property owner is underwater (that is, the amount of the mortgage is more than the owner's equity in the home or property).
Fairfax is a town in Osage County, Oklahoma, United States. The population was 1,555 at the 2000 census. Site of the infamous Osage Indian murders. Fairfax is located at 36Â°34â²17â³N 96Â°42â²23â³W / 36.57139Â°N 96.70639Â°W / 36.57139; -96.70639 (36.571386, -96.706259).
With an estimated population of 87,443 in 2012, it is the principal city of the Fort Smith, Arkansas-Oklahoma Metropolitan Statistical Area, a region of 298,592 residents that encompasses the Arkansas counties of Crawford, Franklin, and Sebastian and the Oklahoma counties Le Flore and Sequoyah.