How many people are walking away from their mortgages as a business decision as opposed to?

walking away because they can't afford the payment? Do you think these types of foreclosures are on the rise?How many people are walking away from their mortgages as a business decision as opposed to?
Most people fall behind on their payments, or they would simply sell their homes. They risk the possibility of paying a deficiency if they simply walk away, even though it isn't common.How many people are walking away from their mortgages as a business decision as opposed to?
Many.
So many that it is scary. I know two couples myself that are just walking away. One has a home they purchased for just over $500,000, value down to $300,000. The other has a home they purchased for $250,000 and that value is down by more than half.
I don't personally know anyone who's done this, but it's pretty idiotic. They're messing up their own credit and risking being sued for the difference in their loan balance and what the home auctions for. They're also perpetuating an already screwed up situation. They should be ashamed of themselves.
I think some of that went on in the early days of the housing bust, particularly, I think investors and builders did it. People who have mortgages on their own residences probably are not doing it. You have to live somewhere and even renters get their credit checked, after all.