Problem
A home mortgage is "under water" when the amount of money owed on it is much greater than (say, twice) the market value of the home. Discuss the economic and ethical issues of walking away from (i.e., defaulting on) an underwater loan. Assume you have $10,000 equity in the home and your monthly payments are $938.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.