Strategic Mortgage Default: Walking Away Is the ‘In Thing to Do Right Now’

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Underwater homeowners explain why they’re walking away from their mortgages, even though they can afford the payments.

On “60 Minutes,” Morley Safer talks with a few of the approximately one million American homeowners who are strategically defaulting, one of whom says:

It’s all legal. It’s not anything I ever expected I would be doing. And it sure doesn’t feel good. But it seems like it’s the right thing to do.

Read more:
Strategic Mortgage Default: The Irresponsible, Amoral, but Best Strategy?

Five Million Homeowners Underwater. How Many Will Walk Away?

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