It is Not a Moral Decision it is a Financial Decision.

I was reading in the recent issue of Business Week about how lenders have started to negotiate on principal
in some of the mortgages that are under water. It spoke of their fear of the precedent this would set, apparently with good reason.
There was a short story about a salesman who was able to make his payments. However, because his neighbor’s house has declined in value he wanted to renegotiate his loan or he would walk away. His
comment; “it’s not a moral decision it’s a …