60 minutes kept talking about whether it’s amoral or whether it should bother your conscience to walk away when you can afford to pay, but only briefly touched on what, to me, is the most important point in this debate. When you sign a contract to borrow money on a house, you’re not saying, “I’ll pay you as long as I can afford it.” You’re saying, “I’ll make payments on the loan or I’ll give you the house back.” When you strategically default, you are fulfilling your part of the contract (as long as you don’t stay in the house when they come to get it).
60 minutes bias is usually quite obvious. In this case, I think they’ve been more subtle, making it look like they’re slanting it one way when, in actuality, they’re slanting it the other.
