Topic: The Banksters
Are You Morally Obliged to Pay Your Mortgage?
With a quarter of American mortgages "underwater", many people are considering walking away from their mortgage. Are there any "moral" consequences?
by Gene DeNardo
(libertarian)
Wednesday, June 29, 2011
About twenty five percent of all home mortgages in Americaare presently underwater. The term underwater refers to the condition in which a homeowner {probably the wrong word to use here} owes more money to the bank than the house is worth. Until the mortgage is paid down to the point at which the mortgage debt equals the market value, the homeowner is guaranteed that every mortgage dollar is a dollar he will never see again, unless another round of housing value inflation begins.








