Dive summary:
- When an online survey for the American Bankers Association quizzed 1,026 adults last month, almost 33% of the respondents said it should be OK to walk away from a mortgage without consequences.
- A 2011 study by the organization's research branch found that economic conditions and social networks were contributing to the change in attitude.
- Answering the September questions, 13% of people told the questioners that they probably would strategically default on their mortgages, and 17% reported knowing someone else who had done so already so.
From the article:
Nearly one-third of people surveyed by San Diego-based ID Analytics said homeowners should be able to strategically default on their mortgages without any consequences. ...