Check out some of the blog responses. I particularly enjoyed this one:
don’t blame her. If I had a house in a collapsing market like Sacramento I wouldn’t pay either. Why should we struggle to keep banks in business when it was their lending practices that created the burst-bubble meltdown of homeowner equity in the first place.
Probably a good business decision to let the house go in a tumbling market and try and pick up another in a market where house prices may be more stable or have already seen dramatic declines.
Morality is so subjective.
You mean like lending money to unqualified borrowers in order to avoid being accused of discrimination. Is that the "lending practice" you were talking about?