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Strategic Defaults: Morally Repugnant or Sensibly Prudent?

In case you did not see it on the air May 9, 2010 there was a very good piece about strategic defaults, where people make the decision to walk away from their mortgage even though they can afford to make the house payment.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

1 Comment

  • We walked away from an underwater house in a bad neighborhood w/bad schools that don’t have much chance of getting better in the next 20 years – when we may or may not be “even” on our mortgage. We actually filed bankruptcy and are including that so I’m not sure if that’s still considered one of the strategic defaults, but it’s helped us move into a nice neighborhood where our daughter can grow up and get a decent education. Good Luck!

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