It's estimated that one million Americans walked away from homes "underwater" or worth less than their mortgages even though they could afford the payments. Morley Safer reports on this trend, called strategic default, that threatens the economic recovery.
Wow that is so scary as I am a home owner myself. The house I bought was forclosed at 108,000 and I bid 125,000 so I can get the house. I couldn't believe how hard it was to win a contract as it was an investor market.
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