BREAKING DOWN 'Strategic Default'. Strategic defaults are often employed by borrowers when the value of their property has dropped substantially within a fairly short time. If the value of the property dips below the mortgage balance then a strategic default provides a way to minimize the property owner's loss.
Fairbanks is the largest city in the Interior region of Alaska. Estimates put the population of the city proper at 32,324, and the population of the Fairbanks North Star Borough at 100,807, making it the second most populous metro area in Alaska (after Anchorage).
The state's most populous city is Anchorage, home to 278,700 people in 2006, 225,744 of whom live in the urbanized area. The richest location in Alaska by per capita income is Halibut Cove ($89,895). Yakutat City, Sitka, Juneau, and Anchorage are the four largest cities in the U.S. by area.