So? That's a moral issue.
A brief stint in jail, and the payoff may still be worth it.
Just run the numbers.
(P.S. An action being legal does not make it moral.)
Absolutely true. I have no sympathy for people who CAN pay, they just don't WANT to. But for the people who it honestly comes down to paying their mortgage OR feeding their family, I don't blame them for walking away.
Not only that, but how many of these people could easily afford their mortgages, but then they lost their job(s) in this wonderful economy, so they're forced to make the debt-vs.-food choice?
Not everyone in a bad situation is just a parasite looking to screw over the taxpayer...