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(Image from article: "Professor Advises Underwater Homeowners To Walk Away From Mortgages")

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Pay the Mortgage or Walk Away?

A growing number of homeowners are considering a "strategic default," walking away from their mortgages not out of necessity but because they believe it is in their best financial interests.

 

Professor Advises Underwater Homeowners To Walk Away From Mortgages

Professor Advises Underwater Homeowners To Walk Away From Mortgages

Go ahead. Break the chains. Stop paying on your mortgage if you owe more than the house is worth. And most important: Don't feel guilty about it. Don't think you're doing something morally wrong.

That's the incendiary core message of a new academic paper by Brent T. White, a University of Arizona law school professor, titled "Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis."

 

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