60 Minutes Story On Walking Away From Underwater Houses

The increasing phenomenon of homeowners who can afford to make their mortgage payments but instead are walking away from their house because it has depreciated in value to the point where they owe far more than the house is worth.

More and more homeowners are deciding that it would be folly to continue to make the mortgage payments when they find themselves with a house that is financially underwater.

Here’s a recent video story from 60 Minutes on this very issue.