For the aging baby boomer population, the decision to strategically default on their homes is one that is steeped in morality. As baby boomers face retirement, those who are struggling with their mortgages are pondering a difficult decision – whether to walk away from their homes before their financial reserves are completely depleted. According to a survey conducted by YouWalkAway.com, older defaulters are more likely to run through their savings and reserves before making the decision to strategically default than younger defaulters. Younger people see strategic default more as a strategic business decision, and struggle less with the morality of the choice. As a result, boomers will deplete their savings, investments and other financial resources before pulling the plug.
Read the complete article here.