A Promise is a Promise? Keep paying the Mortgage?

We have discussed this issue in the past. If your home value is less than you owe on the home, do you have an obligation to keep paying the mortgage?

Well, read this particular story from Yahoo Finance:

http://finance.yahoo.com/loans/article/108422/debtors-dilemma-pay-the-mo...

I agree with George Brenkert - if we promise to pay and we have the ability to do so, than we should keep paying the mortgage.

People purposely withholding payments could have a negative effect on the entire country, or even the world. Lenders need to go after those that default yet can afford to keep paying. Go after other assets, force them to keep paying as best as possible.

We would love to hear what you think about this issue. Feel free to email to vikirkboeger@gmail.com.