Strategic Default - Walking Away from a Mortgage

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Real Estate Agent with Keller Williams Realty TN R.E. License 292369

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?

 

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Franklin TN, Brentwood TN and Nashville Tennessee Real Estate

 
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Topic:
Lending / Financial
Tags:
foreclosure
upside down
strategic defaults

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Rainmaker
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The Brewer Team - Benchmark Realty
Benchmark Realty - Franklin, TN

Mike - I agree with you, it seems unethical to walk away from a committment when you don't have to.

Nov 07, 2010 11:55 PM #1
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Rainmaker
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Franklin & Brentwood, TN Homes Mike Nastri

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