JoeChristmas

How to Default on Your Mortgage and Stay in Your House

There is nothing "immoral" about stopping payment on a mortgage when the alternative is having your kids go without food or medicines. There are two sides to every trade. The banks took on significant risk by loaning money to subprime borrowers, but did it with eyes wide open, chasing higher returns. Now they are suffering the consequences, as are many of their clients. Nobody really "wins" here.