Reply #82: There is no "personal obligation" here, and banks never feel any "personal obligation" either. [View All]

[bemildred]

Since they are not persons.

It's an investment. That is how it is sold, and that is what it is. The mortgage is a contract, and exercising it's provisions is a legal right. The bank's security for the investment is the house itself, that is what you owe to them if you no longer want to pay, and that is what they get, and you have every moral and legal right to do exactly that, walk away. If the banks do not like that, they should do a better job of valuing the security they accept for their loans. They have it coming, and I hope they get plenty of it.