The Morality of Strategic Default – Brent T. White

Brent T. White, author of  Underwater and Not Walking Away – Strategic Default has now published a paper based on the personal accounts of 356 strategic defaulters and homeowners on the verge of doing the same. His finding: People who intentionally default on their loans are not as economically rational or calculating in their decision-making as … Read more

60 Minutes examines epidemic of homeowners who walk away from underwater homes

A million Americans who could afford to pay their mortgages on homes “underwater” walked away instead. It’s the “in thing” one tells Morley Safer in a report to be broadcast this Sunday, May 9, at 7 p.m. ET/PT. Play CBS Video Video Excerpt: Walking Away From Your Mortgage (AP Photo/Patrick Semansky) (CBS) Chris Deaner could … Read more