Homeowners weigh morality of walking out on mortgages
Nationwide, up to 25 million homeowners—about one in four—are “underwater”: like Thompson, their mortgages are worth more than their homes. Those who do walk away face an array of financial consequences, from damaged credit to the prospect of a lender suing to recover the balance. Yet for many, the question fundamentally is a moral one. Is it the right thing to do?