A survey by the Pew Research Center found that more than a third – 36 percent – of Americans believe the practice of “walking away” from their mortgage payments and their home is acceptable, at least under certain circumstances. Of the homeowners surveyed, 48 percent say the value of their home declined during the recession. It’s these underwater homeowners who are more likely than those whose home did not lose value to say it’s acceptable to renege on a mortgage (20 percent vs. 14 percent respectively).
Joshua D. Carlson, Esq.
