One of the few places the dilemma of strategic default, or just walking away from an upside down mortgage, is discussed from all points of view is NPR. I have to admit, that while I am not stuck in this situation, I really am not so sure if my moral compass would point to true north if I were. Walking away when you are financially distressed is one thing, but walking away when can pay but it doesn't make financial sense is yet another thing.
Here is the broadcast from NPR's Morning Edition form October 28, 2010. Read the article or listen to the pod cast.
Many areas are seeing a lot of this and we will be seeing a lot more before it is all done.
Did you listen to the story? What are your thoughts?