If you can’t pay your mortgage, don’t feel bad about defaulting and walking away. After all, it was the greedy mortgage brokers and banks who induced you into a mortgage you couldn’t afford. They made their money, now they should take their medicine.
No, wait. You had a choice. Nobody put a gun to your head and said, “Buy this house or else.” Besides, if you default, it’s not just the bank who pays but the rest of the society through more taxes for bailouts and higher interest rates.
Which argument appeals to you? Take your pick. Both are based on reason. You could choose either one and sound reasonable. Continue reading “Why Reason Isn’t Enough”