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Poll: Are Non-hardship Strategic Defaults OK?

12 May 2010 439 views No Comment

strategicDefaultPoll

This week’s article, “Jumping Ship: How homeowners are walking away,” explored a disconcerting trend of homeowners “strategically defaulting” on their loans, despite having the ability and the means to remain current. The main reason of this voluntary foreclosure seems to be attributed to an “underwater” mortgage, or a home with a value lower than the amount of the note. Certain moral and ethical alarms sound off when considering this new option, which prompted the creation of a poll. Voice your opinion below.

Is walking away from your mortgage (without hardship) OK?

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