Intentionally Walking Away From a Mortgage

It is estimated that 20% of all foreclosures today are strategic — people who could pay their mortgages simply choosing not to. They deem that the benefits of getting foreclosed and moving outweigh the costs of a ding on their credit. Perhaps they can find a comparable rental property for less than their mortgage. So they stop making their payments, pocketing this money for a few months, then “walk away” immediately before foreclosure.
Sixty minutes did a segment on this topic tonight:

Watch CBS News Videos OnlineBy the way, this behavior is not restricted to non-Christians. If you are a church leader, you may want to consider a response, particularly if you’re living in one of the high foreclosure parts of the United States. Chances are that some of your people are either being tempted to do this, or they know people who have done or are considering this step. We do.
To the best of my understanding, a strategic foreclosure (by someone who can pay their mortgage) is never a permissible option for a follower of Jesus Christ (though I believe declaring distress and pursuing a short sale can be).