Here's a recent 60 Minutes episode that discusses strategic walk-aways.
Mortgages: Walking Away - 60 Minutes - CBS News
JMO:
I found it very interesting that Morgan Stanley has walked away from 5 large commercial buildings and a major developer walked away from a 5 Billion Dollar project while both these companies continue to receive funding for other projects. It's also unlikely that their other credit lines aren't being reduced or closed. Yet individual homeowners are being vilified for making similar decisions with far greater negative consequences.
Wednesday, May 12, 2010
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