60 Minutes – Walking Away (May 9, 2010)
Posted on August 16th, 2010 by Real Estate News
60 Minutes – Walking Away (May 9, 2010)
Airdate: 5/9/10 Currently about 7 million U.S. homeowners are behind on their mortgages, and some may end up losing their homes because they can’t make the payments anymore. Then there are those homeowners who can make the payments, but are going into “strategic default,” walking away from their homes because they’re “underwater” — worth far less than the mortgage. Is this financially savvy or stupid? Morley Safer reports.
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