[Gay State Conservative]

...but as long as borrower can easily afford the monthly payments, its not a problem.

Just because he's *able* to make the payments doesn't always mean he's *willing* to.

[rb22982]

True - but in most of the country ex California and the Northeast, that mortgage payment all in is still cheaper than renting, so turning in the keys is fairly unlikely if you can afford it. Now if the value drops from $750k to $250k, that’s a different story. But $250k to $220k? Probably going to stay put.