Is It OK To Walk Away?
Jul 31, 2020870.4K Shares13.1M Views
As I mentioned in an earlier post, the Financial Times has a great piece noting the tendency of borrowers now to walk away from their homes, even if they could still pay on the mortgages. It’s particularly true in cases where borrowers owe more than their homes are worth.
This of course raises the question: Is it ever morally acceptable to walk away from a debt ? Has it become socially acceptable?
In California, there’s also the phenomenon of international foreclosures, where borrowers over their heads on their own loans deliberately stop paying in order to buy a cheaper forcelosed house on the market.
Paolo Reyna
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Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies.
Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most.
In his free time, he loves to travel, watch films, read books, and socialize with friends.
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