Walking away from underwater mortgages

Posted by Guamo at 2:59pm Jan 7 '10
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An article in the NYT tells how many people are walking away from their underwater mortgages, due to the fact that they will most likely not regain their losses for sometimes up to 60 years. The banking community has condemned such action, even though they, as well as the rest of the business world, make such decisions daily. The article calls out the hypocrisy of holding the average homeowner to a much higher standard than big banks and businesses. It made me laugh b/c I always enjoy it when business' immoral decisions come back to haunt them. What do you feel about the issue?