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?