A Dumb Excuse Not To Walk Away

We've debated for some time now whether underwater borrowers should walk away from their house. One of the things that people generally consider in making any decision is the quality of the argument. Recently EVP Don Bisenius of Freddie Mac spoke about strategic defaults, and why he thought they should be avoided. I suspect that any borrower that is wavering is liable to start packing after reading his less than compelling arguments.

It's clear that his real concern was the negative effects on lenders, but he has to know that the average American is not exactly sympathetic with their plight. He decided to try a different tact