I cannot say I am seriously considering doing this, but if it were possible to get a zero- or close-to-zero down-payment loan, I would entertain a strategic default. I have no kids, I am mobile, I would consider it an investment like any other. For the cost of a (hopefully) tiny down-payment plus closing costs, what would my return be over the next 12-24 months, realized as cumulative non-payment?
California is non-recourse, and my credit gets whacked. Big deal. I pay for everything in cash anyways.
Yes I am cognizant that this is sticking it to my fellow taxpayers, but I guess I am too cynical to give a rat’s ass (flame me if you must).
