nakedempire


The American Empire in a Changing World



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Wednesday, November 9, 2011

'After Walking Away from a Mortgage, No Regrets—Not Many Consequences Either'

from time....

"Two years ago, a national debate raged regarding strategic default: Was it wrong to walk away from one’s mortgage? Or, when a homeowner is underwater—owing more than the home was worth—is it a purely business situation in which concepts of right and wrong just don’t apply? Some homeowners dutifully kept up with their mortgage payments. Some cut their losses and walked away. Which was the smarter way to go?"............READ MORE

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