[quote=BigGovernmentIsGood]A mortgage is just a contract. If the buyer breaks the contract by choosing to stop making payments, then, per the contract, the bank can take the house back.
There shouldn’t be any morality considerations that come into play in regards to a mortgage. It should be strictly a business decision as to whether one chooses to walk away. It’s no different than when real estate developers walk away from underwater developments. It happens all the time.[/quote]
Of course, at the same time the onerous of people who made bad financial decisions is for government to bail them out. And folks wonder why there is no concept of moral hazard in this country anymore…Because when one fvcks up, it’s never one’s own fault….It’s always someone else’s fault. Sniff sniff sniff, whine whine whine….Whaaaaaaaaaaaaaa Whaaaaaaaaaaa.
