“Increasingly, the determination of when to default is not guided by the moral question: Is this the right thing to do? It is guided by the pragmatic concern: Am I too far underwater on my mortgage?”
A Growing List Of One Term Presidents, A Saturday Break, A State of Distress, A Time To Repent, AIG and all that....., Back to the basics, Bank Failures, Collateral Damage, Coming Social Unrest, Commercial Real Estate Bust, Coup d'etat in America, Credit Card Debt, Creditors Caveat, Death of the Dollar, Deflation-Inflation-Stagflation, Deleveraging, Insolvency, Integrity and Responsibility, It Is Nice To Be Part of the Elite!, Lending Crisis, Mortgages, Obama's Hypocrisy, Our phony middle class, Residential Market, Sub-Prime anytime, TARP fruit loops, The Arrogance of Power, The Democrats Blew It Again, Time For A New Third Party, Unemployment Catastrophe, We Are All Cooked
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Jul 252009
Walking Away When You Can Pay By Kelsey VanOverloop
Homeowners are turning to the “strategic default” — walking away from a mortgage even when there are funds available to keep paying. “Increasingly, the determination of when to default is not guided by the moral question: Is this the right thing to do? It is guided by the pragmatic concern: Am I too far underwater on my mortgage?” writes Kelsey VanOverloop. Read more »
Posted by Brian Schuettler at 9:03 am
