[the invisib1e hand]

strategic defaults? sounds like a college class.

geez, complete with a flag. walking away from your commitments is so patriotic.

[keepitreal]

In before “it’s the greedy bank’s fault for loaning to a naval reservist who didn’t know what he was doing and had to do it fast because he was shipping out” crowd.

[RC one]

Every person that does this puts everyone else a little more “under water”. It’s dog eat dog in America though and Americans are always gonna take care of numero uno. that’s how we roll.

[varon]

"I was happy to have my wife in such a nice place while I was away," he said.

But now, with the condo worth about half the $425,000 they paid, his attitude has changed.

"I don't want to keep on paying when the house will never go back up to its value," he said. "It's better to cut our losses, get out of there and go rent."

This guy buys the condo for $425,000 so his wife has a nice place to live while he's away, serving his country.

So now that the value has decreased it isn't such a nice place to live anymore?

He purchased the condo at an agreed price, interest and terms to provide a nice place for his family to live. I have serious doubts he had a clause giving an option to back out if the value declined.

Does this jerk complain about making car payments on a car that isn't worth as much as when he first bought it?

[LearsFool]

complete with a flag. walking away from your commitments is so patriotic.

Well said.

His credit rating may forget this deadbeat incident after a few years, but it's a stain on his honor that will not fade. Wouldn't hurt my feelings any if this untrustworthy cad was refused credit for the rest of his life.

[dragnet2]

geez, complete with a flag. walking away from your commitments is so patriotic.

Reminds me of the Federal government's commitment and swore duty to secure and protect our sovereignty and borders.

It's one of the few things they are actually supposed to do.