I dont agree with this article at all. The Lender shouldnt lend on things they are not willing to take back. The Borrower has to weigh the negatives of walking away from a mortgage. Those negatives are set forth in the original contract. The rules of bankruptcy would not apply in this situation because bankruptcy is not neccesary. The banks caused this problem. The banks have been screwing people for years with credit card scams, closing costs, etc... I always found it funny how the banks never have a problem raising the rates on credit when the prime rate rises but all the excuses start coming out when the fed rates start dropping. I hope the banks rot in hell. They dont even have the money they lend anyway because of the fractionalized reserve system that is in place. When it implodes the taxpayer pays for it. We are still paying for the S/L crisis. We are probably still paying for Continental Illinois who was lending money to emerging and frontier countries. Guess what they did when these countries couldnt pay their loans. The bank lent more money it didnt have to the countries so they could make payment toward the first loan. Who are the shareholders of the Federal Reserve who sets the interest rates? That is the question every person needs an answer.