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Perspective

Oct. 15, 2009

The Tension Behind Strategic Defaults

Jeremiah A. Ho of Whittier Law School delves into the moral issues behind strategic defaults and plays a little devil's advocate.

FINANCE

By Jeremiah A. Ho

Lately, the phrase, "strategic default," has been rolling off commentators' tongues with a disdain frequently reserved for delivering a backhanded compliment. Despite whispers of recovery in the housing sector, strategic defaults have allowed mortgage debtors, who are perfectly capable of making their repayments, to default on their home loans because their home property values have plummeted substantially below their original...

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