Tuesday, December 01, 2009

Ethics of Ditching Your Mortgage

Good Metafilter discussion about whether you should default on your home loan when the value of the home is way below the mortgage amount.

Homes are immensely personal, and the discussion highlights the extent to which personal fondness for homes and senses of morality unite to cause people to make irrational decisions about their houses. There's a sad tale in there of a guy whose dad refused to go into bankruptcy out of a sense of honor, and the negative impact it had on his family.

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