By Daily Crux Editor Justin Brill:
You're probably aware of the growing "epidemic" of voluntary mortgage defaults - more and more homeowners are choosing to stop paying their mortgages rather than continue to pay for a home that's worth far less than they owe.
The conventional wisdom is that it's irresponsible or even immoral. But a piece in this weekend's New York Times Magazine makes the case for why it might not be such a bad thing after all (not that we agree with any breach of contract)...
Read full article...
More on mortgages:
The case against paying your mortgage
The next mortgage time bomb is about to go off
Treasury admits its mortgage boondoggle is an utter failure
