Stop paying your mortgage.
At least that's the message from a University of Arizona law professor. Brent White's new paper argues just this tactic, and it is hitting a nerve as the nation's housing crisis enters its fourth year.
White is hardly first to talk about the idea of walking away from a mortgage that is bigger than the value of a home.
Nonetheless, his suggestions have gone viral and are popping up online, in newspapers and on television.
It's a move that can save some people money, but at the expense of wrecking their credit.
The topic is central to what's crippling the housing market: About one in four homeowners, or 10.7 million Americans, are considered underwater, meaning their mortgage exceeds their home value, according to real-estate information company First American CoreLogic. (more)
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