Are you morally obliged to pay your mortgage?

posted by
June 30, 2011
Nolan Chart
by Gene DeNardo  
Posted in Commentary

"With the outlook of housing inflation commencing being pushed further out into the future, many underwater mortgage holders wonder if they shouldn't just walk away from their mortgage contract before it takes them from their house to the poor house. Yet, many feel morally obliged to continue paying their hard earned money to the banks, regardless of the unwillingness of most all banks to adjust their mortgage value to real world values. To explore whether there is truly any moral obligation, we must first understand the fundamentals of the home mortgage." (06/29/11)  

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