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re: Is "walking away" from a mortgage wrong?
Posted on 10/11/12 at 11:25 am to SlowFlowPro
Posted on 10/11/12 at 11:25 am to SlowFlowPro
quote:
morally? no
it's a contract. there are mechanisms in place in the result of a breach. morality plays no part in that mutually-bargained exchang
I agree with this fully.
Why do you think so many people regard it as a moral obligation, though?
Posted on 10/11/12 at 11:40 am to WikiTiger
quote:
Why do you think so many people regard it as a moral obligation, though?
That's a good question.
I think deep down everyone wants to stay in their home and honor their commitments. I think there is some since of "failure" that goes along with it, because once you could afford it and now you can't.
In my own experience, we really liked our house. We worked to get the loan modified but our lender couldn't meet us half way. So we did the short sale, even though I hated to do it.
Posted on 10/11/12 at 11:53 am to WikiTiger
quote:
Why do you think so many people regard it as a moral obligation, though?
For some people Ethics and Morals are one in the same.
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