When a home’s value falls below 75% of the amount owed, a homeowner starts to think seriously about just walking away, even if he or she has the money to keep up payments, according to a recent story in the New York Times . By the Fall of 2009, it states, about 4.5 million homeowners had reached that threshhold, with their home’s value dropping below 75% of the balance. By June, that number is expected to increase to 10% of all homeowners with mortgages. A mortgage broker from Scottsdale, Ariz., tells the Times that he’s already advised some 60 people to walk away. An economist argues that people should be held accountable for the contracts they sign. And the story spells out the perils, including botched credit scores and how that could affect the view of, say, prospective employers.  What do you think? Would you strategically default if you found yourself  underwater by that amount? Take our poll, and elaborate in the comments. . Would you purposely default on a mortgage? Yes, I’d be an idiot to keep paying No, it’s morally wrong to walk away It’s unethical, but I’d have to do it No, I’d fear any bad consequences View Results

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