What do you think? From CNN/Money:
Homeowners are abandoning their homes and, more importantly, their mortgages, rather than trying to keep up with rising payments on deteriorating assets. So many people are handing their keys back to lenders that a new term has been coined for it: jingle mail. “I stopped paying my mortgage in October, after shelling out about $70,000 in interest [over 15 months],” said one borrower, David, who doesn’t want his last name used. “Now, I’m just waiting for the default notice.”
I gotta say that I think it is kind of crappy – I mean, people should take some responsibility for what their financial decisions, right? Oh, and that David is not me. 🙂 Take the poll – do you think it is an OK practice to walk away from your mortgage when you can no longer afford it?