Relevant:
- Many underwater homeowners are deliberately walking away from mortgages
- strategic default driven by future home prices, default costs
- 27 million believe home is underwater
- Owners' 'strategic defaults' on mortgages depend largely on how far underwater they are
- More homeowners choose to default on loans
2010-05-11 — cbsnews.com
"It's estimated that one million Americans walked away from homes "underwater" or worth less than their mortgages even though they could afford the payments. Morley Safer reports on this trend, called strategic default, that threatens the economic recovery."
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