As a “business decision” everyone’s gotta do what they gotta do. If walking away makes economic sense after taking all the various factors into consideration, then one should do it. But… the only thing that bothers me about a lot of these folks is the blame and “anger” (from the article). The buyer is the Prime Mover in every real estate transaction. Without the buyer finding the home s/he wants to buy and THEN going to the lender to get it funded there is no transaction. Which is why I assign roughly 65% of the blame in this whole fiasco to Reckless Buyers and the other 35% to Reckless Lenders. The buyers aren’t victims here – they’re just financial retards. So, if they want to walk away – ok, do it. But don’t try to feed me some bullshit line about how it’s ALL the bank’s fault, NONE of the buyer’s fault, and you’re so ANGRY at the banks. If you want to be angry, be angry at yourself for being a complete idiot.
Now, the folks who either haven’t bought or did buy but aren’t walking away… they have the right to be ANGRY at both parties.
