Here’s a simple question for all of you. If commercial real-estate companies are walking away from mortgages on properties that are now worth less than they paid for them, why shouldn’t homeowners?
When homeowners do it, it’s seen as a violation of a business contract. Moreover, the mortgage industry and government then toss in that homeowner’s have a “moral obligation” that’s seen as social contract they’re violating.
But when corporations do it, it’s seen as a smart business decision.
Don’t you love double standards?
For the article, read The Wall Street Journal