Will walking away from a mortgage go mainstream? - LA Times

As earlier reported, it's not my intention to endorse what are popularly being called "strategic defaults." Roger Lowenstein, a former editor of the Wall Street Journal's "Heard on the Street" column, writes about the topic at this link:

Will walking away from a mortgage go mainstream?

Certainly walking away from properties that are underwater on their mortgages will have a seriously detrimental effect on one's credit.  But the concept may deserve thought when a property is so far underwater as not to stand a reasonable chance of recovering that difference in value within a meaningful time horizon.  Food for careful thought; ground that should be treaded lightly. - David

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