White on the Morality of Strategic Default

Brent T. White (Arizona) has posted Beyond Guilt in the Housing Crisis: The Morality of Strategic Default on SSRN.  Here's the abstract:

Responding to those who argue that homeowners who strategically default on their mortgages are immoral and socially irresponsible, this article argues that breaching a mortgage contract is not only morally acceptable, it may be the most responsible course of action when necessary to fulfill more important obligations to one’s family.

Ben Barros

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