IT’S IMMORAL, that’s why.
He made a promise and didn’t keep it.
In other words, he STOLE the lending institution’s money.
they stole nothing.
The bank has the property as a guarantee. The bank recieves the house and the contract is fulfilled.
No, he gave them whatever payments he had made to date AND gave them the house. IF the contract truly says, "Hey, pay us the full amount, or give us the house back and lose all the money you've paid in so far," I don't have a problem with that.