Letters: It's wrong to walk from mortgage
A reduced sign is displayed in front of a house for sale outside of Greensboro, North Carolina, U.S., on Monday, Feb. 13, 2012. The National Association of Realtors is scheduled to release existing homes data on Feb. 22. Photographer: Victor J. Blue/Bloomberg Credit: Bloomberg/Victor J. Blue
Let me get this straight. In "After the bubble" [Business, April 22], a dentist, an apparently educated and well-compensated individual, says he bought a $530,000 townhouse in 2006 and is going to hand over the keys to the bank after his son graduates high school for what reason? Because the house has lost value and is no longer a good investment?
Excuse me, but how is that a good reason for shunning his legal obligation? He will walk from this obligation, let the bank eat the losses by foreclosing on his townhouse (and pass those costs on to other buyers), while he goes on to find another more advantageous deal elsewhere.
If I were one of his patients who was not happy with the dental work he performed, or just felt I was overcharged and am having buyer's remorse, would I just park my dentures, crowns, etc., at his front desk and move on to someone else? That seems to be the new American way. What a travesty this country has become.
Tim Consiglio, Hauppauge
I believe if and when this man walks away from his mortgage obligation, he should be arrested for theft. He says he is paying the mortgage now, which shows he can do it. He also states he is willing to ignore the bank's $500,000 (the remaining amount of the loan).
This sense of entitlement is a plague. You gambled and lost -- deal with it. You still have a roof over your head, and can pay for it. Stay put and maybe it will come back around.
Stop crying, and deal with your bad decision on your own. Keep me out of it!
Tom Keller, Sayville
