Such voluntary defaults are a new phenomenon. Time was, Americans would do anything to pay their mortgage forgo a new car or a vacation, even put a younger family member to work. But the housing collapse left 10.7 million families owing more than their homes are worth. So some of them are making a calculated decision to hang onto their money and let their homes go. Is this irresponsible?
Wasn't it irresponsible of the Banks going broke and the CEOs still get bonuses and more money to prop up their bad managenent...bailout $$$$$
