Pay your bills. That’s how it works. Don’t pay, pay the price and they do not forgive.
There's no question in my mind that a person has a moral obligation to pay off a just debt if he/she is capable of doing so, regardless of what the law says. But this whole system of paying a mortgage starts to get very blurry when the mrotgage instrument is transferred from the original lender to secondary investors . . . and there are serious questions about just who holds the title to the property. This is the underlying legal issue that is faced by many courts involved in foreclosure proceedings, and in some states there are far too many cases where the party foreclosing on a home isn't the party that actually holds the title to the property. For some reason Florida is rife with this kind of nonsense, which makes me wonder what's going on down there and what unique legal issues are involved.
A person has a constitutional right to the benefits of their contracts. If contract provides for a strategic default, how is it immoral or unethical? The bank agreed to those terms, as well.