Thursday, July 22, 2010

The Morality of Strategic Default

The Morality of Strategic Default

Responding to those who argue that homeowners who strategically default on their mortgages are immoral and socially irresponsible, this article argues that breaching a mortgage contract is not only morally acceptable, it may be the most responsible course of action when necessary to fulfill more important obligations to one’s family. 
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1597835

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