Skip to main content
Please enter a legal issue and/or a location
Begin typing to search, use arrow keys to navigate, use enter to select

Find a Lawyer

More Options

Most Americans Oppose Walking Away from Mortgages

By Stephanie Rabiner, Esq. on April 05, 2011 | Last updated on March 21, 2019

Even though some are reporting that the housing market is slowly improving, many homeowners are still finding themselves in financially difficult situations and are facing foreclosure.

In response, some homeowners are walking away from mortgage payments altogether, refusing to pay. But, according to a survey conducted by, the majority of Americans don't approve of this tactic.

Sixty-percent of people polled by believe that it is never acceptable to walk away from a mortgage, even if there is a valid reason to do so. Thirty-four percent, however, said that walking away is okay, but only if payments are not financially possible.

Only three percent felt that homeowners should be able to walk away regardless of financial circumstances.

FindLaw - Foreclosure Infographic FindLaw - Foreclosure Alternatives FindLaw Answers - Real Estate FindLaw Lawyer Directory - Real Estate Lawyers

Walking away from mortgage payments is not the best idea in the world, and it isn't a floundering homeowner's only option.

Besides the fact that failing to make payments can cause legal problems in the areas of contract, real estate and tax law, doing so will undoubtedly ruin a homeowner's credit score and ability to purchase a home in the future.

There are a slew of federal and state programs that are designed to keep homeowners from walking away from mortgage payments. The Department of Housing and Urban Development offers free loan modification counseling, while most states and municipalities offer grants and tax hardship programs.

So if you're nearing, or in, foreclosure, and considering walking away from mortgage payments, check out our section on real estate law and learn about your options.

Related Resources:

You Don’t Have To Solve This on Your Own – Get a Lawyer’s Help

Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.

Or contact an attorney near you:
Copied to clipboard